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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- The University of Queensland
- White Energy Company Limited
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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