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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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Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
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- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- VISA Power Limited - India
- Economic Council, Georgia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Australian Coal Association
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- PTC India Limited - India
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