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Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
 The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining companies’ profits but also cause problems in the domestic market, which won’t be able to absorb all the output, a mining executive said.
Ray Antonio Gunara, president director of Harum Energy (HRUM), a coal mining and logistics company with operations in East Kalimantan, said that his business already had to pay a 13.5 percent royalty and that the additional 20 percent would only cut deeper into its profit margin.
“If the policy is really implemented, it would mean that besides of the 13.5 percent royalty obligation, we will also have to pay another 20 percent to the government and therefore we will only get about 70 percent of sales,” Ray said.
The new rule — moved up to this year from 2014 — bans shipments of unprocessed gold, silver, platinum, copper, lead, nickel, zinc, iron ore and sand iron, manganese, chromium, molybdenum, bauxite and antimony in a bid to boost value-added products.
The government has made exceptions for miners that plan to build smelters. They will be taxed at an average of 20 percent on ore exports.
Some companies may end up holding back ore shipments if the new levy makes mining unprofitable and might focus instead on building smelters or selling domestically.
Ray said if wouldn’t be easy for sales to shift to the domestic market because its absorption rate was much smaller than the export market. Currently around 90 percent of mining products are exported.
However, Herman Afif Kusumo, head of the Indonesia Mining Community Presidium (MPI), said 20 percent was an acceptable level that local mining concerns could still afford. The new taxes were needed to prevent the rapid overexploitation of Indonesia’s natural resources, he said.
Source: The Jakarta Globe
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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
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- Metalloyd Limited - United Kingdom
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- IHS Mccloskey Coal Group - USA
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- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
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- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
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- Mintek Dendrill Indonesia
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- Orica Australia Pty. Ltd.
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- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
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- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
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- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
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- MS Steel International - UAE
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
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- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
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- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
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- Posco Energy - South Korea
- Interocean Group of Companies - India
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- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- The University of Queensland
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Central Electricity Authority - India
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- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
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- Commonwealth Bank - Australia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
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- Chamber of Mines of South Africa
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- Agrawal Coal Company - India
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- Ministry of Mines - Canada
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