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 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
|
| |
| |
|
