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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- White Energy Company Limited
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- SMG Consultants - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
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