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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, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Planning Commission, India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
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