We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
|
|
|
Showing 4866 to 4870 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
|
| |
| |
|
