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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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- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- VISA Power Limited - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
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