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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, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
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- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
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