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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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Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
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- Anglo American - United Kingdom
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
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