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.
|
|
Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
|
|
|
Showing 4871 to 4875 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Bhatia International Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
|
| |
| |
|
