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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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Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
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