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