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, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
Tuesday, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
|
|
|
Showing 4911 to 4915 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
|
| |
| |
|
