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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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Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
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