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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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Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Bahari Cakrawala Sebuku - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
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- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Indian Energy Exchange, India
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- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
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- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
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- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
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- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
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- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
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- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
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- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
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- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
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- Orica Mining Services - Indonesia
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- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
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- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
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- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Romanian Commodities Exchange
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- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
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