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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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Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
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