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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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Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
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