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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Xindia Steels Limited - India
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