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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- VISA Power Limited - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
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