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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
 The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mining companies amid indications of potential legal violations in calculating their tax payments.
Tax office spokesman Dedi Rudaedi said in a press release sent to The Jakarta Post on Tuesday that more tax supervisors who understood the technical aspects of coal mining would be assigned to ensure that there were no legal violations in calculating the companies’ tax burden.
Dedi added that the technical ministry overseeing coal mining companies, the Energy and Mineral Resources Ministry, had the expertise to determine production, cost recovery and operational costs of coal miners.
It was also important to improve the exchange of information between the tax office and the Energy and Mineral Resources Ministry, as mandated by the 2009 Taxation, he added.
“With that effort, the tax office can examine and ensure that the information contained in the tax forms submitted by taxpayers in the coal mining sector is true,” Rudi said.
Deputy Energy and Mineral Resources Minister Widjajono Partowidagdo said that calculating operational costs in the coal mining sector was not as transparent a process as it was in the oil and gas sector.
“In coal, miners calculate operational costs by themselves, while in the oil and gas sector, the amount of the costs must be approved by [upstream oil and gas regulator] BPMigas,” he said.
Widjajono said that a coal and mineral mining company’s revenues were comprised of operational costs, the government’s share and the company’s share.
The higher the costs, the smaller the returns to the government would be, he added.
Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu told the Post that all costs and expenditures reported to the tax office and the Energy and Mineral Resources Ministry were audited first so there was only a very small possibility for a coal miner to balloon their operational cost figures.
“We have a tax officer supervising each coal company. Our financial statements must also be audited by public auditors. We are also audited by the Development Finance Comptroller [BPKP],” he said.
Bob said that the operational costs of coal miners usually came from subcontractors who charged them for each project undertaken.
Coal mining companies checked the validity of prices listed on invoices submitted by subcontractors before approving them, Bob added.
“However, we will fully support it if the government wants to improve its supervision of coal mining companies to check whether there is something wrong,” Bob said.
Indonesia’s coal production is estimated to reach 370 million tons in 2011, with 65 million tons allocated for the domestic market.
The Energy and Mineral Resources Ministry previously said it expected investment in the mineral and coal mining sector to reach US$3.2 billion this year, a slight increase from last year’s figure of $3.18 billion.
Source: The Jakarta Post (By Rangga D. Fadillah)
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Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
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- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
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