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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, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- VISA Power Limited - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
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