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.
|
|
Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
|
|
|
Showing 4901 to 4905 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
|
| |
| |
|
