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Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
 The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor’s says it doubts the government will implement them strictly.
“Whether the government of Indonesia will follow up on its hard-line stance is still a question,” the ratings agency said in its latest report on mining.
However, S&P added that “our ratings on mining companies operating in Indonesia have long factored in the country’s evolving regulations. Therefore, our credit outlook on the sector remains stable.”
The government this year issued a series of controversial mining regulations, including plans for an ore export ban, higher royalties, a ceiling on foreign ownership of mining assets, a required upgrade in coal quality before export and so-called “contract of work” renegotiations.
“Not a week has passed without government officials calling for additional royalties, a review of ownership rules or a more equal redistribution of mineral wealth,” S&P said in the report.
Industry Minister M.S. Hidayat was on Thursday quoted by Reuters reiterating an earlier statement by his ministry that the government is studying a 25 percent tax on mining exports this year that will become a 50 percent tax in 2013.
S&P said that if the move is strictly implemented, it “would undeniably hurt Indonesian mining companies as well as international companies that have mining operations in Indonesia. It would raise the cost of doing business in the sector and lessen its attractiveness to investors.”
The ratings agency said that it believed “the government of Indonesia will take a pragmatic approach while implementing mining regulations, given the sector’s economic importance.”
Last year, the government received $6.5 billion in taxes and royalties from mining companies, constituting 5 percent of total government revenue.
Dileep Srivastava, the investor relations director at large coal miner Bumi Resources, expressed concern about the tax.
“If this is enacted, some of our metals and minor coal assets may be vulnerable,” he said.
“But it is premature to form any view yet.”
Source: The Jakarta Globe
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Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
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- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
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