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Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
 The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on mineral ores and coal, saying that the measure would severely hurt their businesses because they already pay high income tax rates.
The executive director of the Indonesian Mining Association (IMA), Syahrir Abubakar, said in Jakarta on Thursday that the government should be aware that under their contracts of work, miners paid a corporate income rate of between 35 and 45 percent, which was higher than the 25 percent imposed on other companies.
“Some of them pay between 35 percent and 45 percent even though the 2008 Income Tax Law regulates that the tax is only 25 percent,” he told reporters on the sidelines of the launch of the Mining & Engineering Indonesian Exhibition in Jakarta on Thursday.
If the government insists on applying the export tax, it should also declare that all companies pay tax according to prevailing laws, and not based on their contracts, he said. Currently, contracts of work in the country use the principle of “nail down” in which the taxes paid by miners follow the regulations in force when the contracts were signed, he explained.
“It’s no problem if the government wants to increase its revenue by applying new taxes, but it has to ensure that all the companies are on the same level playing field and are getting the same treatment. If not, this will kill the companies,” Syahrir said.
The government has the power to call all contract holders and inform them that it will apply the prevailing laws in tax payment and therefore the conditions in the contracts have to be renegotiated, he said.
“There’s nothing wrong with the government’s desire to boost tax revenue, but it has to do it in a way that doesn’t endanger the miners,” he said.
He said the government had never invited mining companies to discuss the plan.
Supriatna Suhala, the executive director of the Indonesian Coal Mining Association (APBI), agreed with Syahrir that equal treatment for all miners was necessary. However, he warned that implementing the plan would be difficult if not impossible.
“If the government insists, we have to revise the content of the 2009 Minerals and Coal Law. Our contracts with the government must also be renewed. What we need is equal treatment. Now, companies pay taxes and royalties in different amounts,” he said over the phone.
“In my opinion, this plan will do more harm than good.”
The discourse over the export tax first began following Industry Minister MS Hidayat’s statement that the policy was aimed at preventing companies overexploiting the county’s mineral resources and selling it in ore form without thinking about the future of the nation’s reserves.
The planned tax will supplement the government’s decision to ban mineral ore exports in 2014, which is mandated by the 2009 Minerals and Coal Law and a 2012 ministerial regulation.
When asked about the export duty, the Energy and Mineral Resources Ministry’s director general for minerals and coal, Thamrin Sihite, declined to comment.
Source: The Jakarta Post
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Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- The University of Queensland
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Planning Commission, India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
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