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Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
 The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impose export duty on 14 mineral commodities starting May 6, seeing the initiative as a step in the right direction in replacing the initial plan to entirely ban the exporting of commodities.
In a statement issued on Wednesday, the IMA said the ministerial decree on the export ban, which was introduced in February and was set to become effective on May 7, had created much controversy due to the speed of its planned implementation; far earlier than the 2014 deadline set by the 2009 Mining Law, which would have left most mining companies unable to comply.
The government had argued that the quick implementation of the export ban was aimed at avoiding over-exploitation by miners ahead of the 2014 deadline, and to ensure that supplies were secured to meet growing domestic demand.
“The IMA appreciates the government’s [new] plan to issue and implement export taxes on 14 mineral commodities … We hope that given the intention to make Ministerial Decree No. 7/2012 effective on May 6, there will be further clarification from the government on its implementation,” IMA chairman, Martiono Hadianto, said.
Previously, after a wave of protests from mining companies, the government said they could continue exporting as long as certain conditions were met; namely, mining companies had to sign integrity pacts agreeing that in 2014 they would stop exporting metal ore, and they would have to submit a comprehensive proposal on whether they wanted to build smelters -- individually or in joint ventures -- or sell their products domestically.
The government revealed that as many as 17 companies had proposed to build smelters in Indonesia, in addition to the 19 companies that had previously submitted similar plans to the Energy and Mineral Resources Ministry. Altogether, Indonesia will have a total of 36 new smelters built over the next few years.
The IMA has requested that the changes to the export ban regulation be adapted into a new regulation so as to provide legal certainty for all mining companies’ operations.
A mining expert from the Institute for Essential Services Reform, Fabby Tumiwa, agreed that the government needed to provide a legal framework.
“The 2009 Law on Minerals and Coal sets the deadline at 2014, but the ministerial regulation stipulates it’s this month. Now we hear about the government’s plan to apply export tax on metal ore. What can be taxed if raw-material exports have been fully banned?” he said.
He suggested the government revoke the regulation or revise it with a clearer, new regulation to accommodate the export duty.
Ahead of the implementation of the export tax, the IMA also warned the government to consider the fact that mining companies were already paying on average 30 percent taxation on their income.
“We hope the implementation of the export tax will not adversely affect the investment climate in Indonesia and lead to less foreign investment,” Martiono said.
According to Energy and Mineral Resources Minister Jero Wacik, the export taxes, which will be announced by the Finance
Ministry on May 6, will range between 20 and 50 percent of a commodity’s sale value.
State mining firm PT Aneka Tambang’s (Antam) president director, Alwinsyah Lubis, acknowledged that the planned duty would be a challenge for mining companies. But, he understood the government’s goal to prevent over-exploitation of natural resources while awaiting the raw materials export ban to be fully implemented in 2014.
“Business-wise, it will indeed add a greater burden to companies, but I think it is still bearable,” he said in a recent exclusive interview with The Jakarta Post.
Source: The Jakarta Post
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Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
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- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Planning Commission, India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
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