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