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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, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
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- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
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