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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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Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
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- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
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