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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, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- Eastern Coal Council - USA
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Australian Coal Association
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
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