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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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Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- CNBM International Corporation - China
- GMR Energy Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
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