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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- The University of Queensland
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
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