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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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Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
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