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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Minerals Council of Australia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Australian Coal Association
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
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