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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, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Australian Coal Association
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
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