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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
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