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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, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Australian Coal Association
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
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