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Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
 The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities has been criticized by analysts, with lobbyists being blamed for the decision.
Since May 6, shipments of 14 minerals have been hit with a 20 percent export tax as part of the government’s plan to pressure mineral companies to process ore in Indonesia.
The commodities impacted are gold, copper, silver, tin, chromium, lead, molybdenum, bauxite, platinum, iron ore, nickel, iron sand, antimony and manganese.
Komaidi Notonegoro, a mining expert from the ReforMiner Institute, a research company for mining, energy and the environment, said he believed shareholders in big coal miners were influencing the government’s policy to “delay” applying an export tax to coal.
Pri Agung Rakhmanto, executive director of ReforMiner Institute, agreed with his colleague. He said the government’s claim that coal miners were subject to binding contracts that could not be broken did not hold water, because other miners had to abide by the same contracts.
Coal sales are also not normally bound by long-term contracts as the commodity can be easily found on spot markets.
“So the question is what’s behind this policy? Coal was supposed to be the first commodity to be subjected to the export tax. Why is the government being selective?” Pri Agung said.
ReforMiner data showed the export value of coal, which averages about $25 billion to $30 billion a year, is triple the value of the 14 mineral commodities combined, at around $8 billion to $10 billion a year.
Edi Prasodjo, director of coal at the Energy and Mineral Resources Ministry, said the government was still studying “the appropriate policy” for coal.
However, he said the government had other concerns about the coal industry. Coal production, he said, is expected to increase to around 450 million tons in 2013, which is way too much. Indonesia’s 2011 production was 330 million tons.
The government plans to limit production, but he did not explain the reasoning. East Kalimantan Governor Awang Farouk Ishak requested last Sunday that the government limit coal production from the province to help reduce environmental damage from the massive exploitation of the commodity.
Supriatna Suhala, the Jakarta-based executive director of the Indonesian Coal Mining Association, said levying an export tax on coal would be unfair, because coal miners already paid high corporation and royalties tax.
“If all contracts must be charged an export tax, then the holders of the first-generation contract will be strangled,” he said. “They cannot live anymore and may have to bring this to international arbitration.”
Ray Gunara, president director of Harum Energy, said a 20 percent export tax on coal would be a burden.
“Fuel prices are not declining, so we are not seeing costs decreasing,” he said.
Source:Investor Daily, JG Retno Ayuningtyas & Ester Nuky
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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- The University of Queensland
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
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