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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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- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- PTC India Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- The University of Queensland
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
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