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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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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
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