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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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- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
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