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Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
 The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan to tax the export of minerals and base metals starting next year.
Economists say such an initiative is a testament to the government’s long-term economic vision, in which local manufacturers are encouraged to add value to commodities, as well as contributing to national energy security.
For local miners, on the other hand, the upcoming export tax would be an additional burden that could affect their financial performance amid global economic uncertainties that could jeopardize future expansion plans.
Arif Hadianto, a spokesperson for Indonesia’s fifth largest coal miner, PT Berau Coal Energy, said coal producers already paid 13.5 percent of their total sales as royalties to the government, on top of the income and value-added taxes.
“A new tax would automatically be a burden. The government must take into account that coal producers have an obligation to meet domestic demand,” Arif said on Sunday.
Separately, Resource Alam Indonesia head of investor relations Erif Tirtana said small- and medium-sized companies would be hurt most by the tax plan. “The export tax will be a double tax, as we are already paying royalties. I just hope that the ministry will consider our grievances,” he said.
PT Antam corporate secretary Bimo Budi Satriyo said that the export tax would reduce his company’s profits. Bimo said that Antam, which exports nickel to China, Korea, and Europe, had to give 5 percent off its sales prices per ton of high calorie (garnierite) nickel ore and 4 percent for every ton of low-calorie (limonite) nickel ore in royalty fees.
“We still don’t know what the regulation will look like. As long as the government considers the royalty we are already paying. It will be okay.”
Association of Indonesian Mining Professional chairman Irwandi Arif said that the government should calculate the amount of export tax to help companies maintain their profits. He said, the tax should be re-distributed to develop industry in the country.
“The export tax should be used to provide incentives in development of coal-powered power plants, for example, in Mulut Tambang [in Tanjung Enim, South Sumatra]. It would be troublesome if the government fails to synchronize the use of the tax,” Irwandi said.
The tax plan was first introduced last week by Industry Minister Mohamad S. Hidayat, who said that the ministry was preparing the export tax on mineral products to encourage the development of derivatives products from minerals and base metals by local industries.
Hidayat said the regulation was poised to be implemented in the first half of 2012, pending approval from the Finance Ministry.
“The growth of the downstream industry will create jobs, add value to our products and reduce dependence on imports,” said Hidayat. He promised that investors who invested in downstream industries would be given tax holidays.
The planned export tax is in line with the ongoing process carried out by the Energy and Mineral Resources Ministry, which is drafting a regulation that will ban exports of raw mining products beginning in 2014. Prohibiting exports of raw mining product is a part of the government’s commitment to fully implement the 2009 Mineral and Coal Law, requiring miners to process coal and mineral into added-value products before exporting them.
Mining expert Kurtubi said that the government’s move to impose export taxes on non-renewable coal and base metals was “logical” as other commodity-based industries were already paying more.
“State revenue from coal and general mining is very little. Corporate tax for general mining sector is about 35 to 40 percent, while the royalty as stated in the contract of work is only about 1 percent.”
Source: The Jakarta Post
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Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
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- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
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