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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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Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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- SMC Global Power, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- The University of Queensland
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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