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Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
 The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that his office had ever proposed a controversial export tax for coal, saying that he preferred to impose a new market control mechanism to secure domestic supply.
“I never said that we planned to apply a tax or a full ban on coal exports,” he told reporters after accompanying President Susilo Bambang Yudhoyono to meet Royal-Dutch Shell chief executive officer Peter Voser at the Presidential Palace in Jakarta on Thursday.
He explained that the country would need more coal to generate electricity as more coal-fired power plants under the 10,000 megawatts project would come on stream this year, further reducing PT Perusahaan Listrik Negara (PLN)’s dependency on diesel fuel.
“That’s why what I want to do is determine what volume of coal can be exported and what must be reserved for the domestic market,” Jero said.
He added that the government would soon come up with the calculations of the amount of coal needed by the domestic market in order to determine a domestic quota that had to be met by all coal producers.
If there was a production surplus, he said, the government would not prevent or tax exports.
The government has, since 2010, imposed the so called Domestic Market Obligation (DMO) scheme on 63 coal mining companies in the country. In 2012, the mining companies are obliged to sell 24.72 percent of their output to domestic users under the DMO ruling.
The ministry estimates that this will amount to 82.07 million tons next year, of which around 69.7 percent will go to PLN’s power plants. This figure, however, will not be sufficient as more power plants begin to come on stream.
PLN is the largest coal consumer in Indonesia. In 2012, the company forecasts that it will absorb 54 million tons. With the completion of several new coal-fired power plants, this consumption is expected to soar to 87.5 million tons next year and 95.3 million tons in 2014.
Jero once again insisted that he never agreed to any proposal to apply an export tax on coal and he would have to talk to all coal companies to convince them that such a plan never existed.
He said that the only export tax existing today was a 20 percent tax on raw mineral commodities.
The tax on minerals was first applied to 14 specific commodities, but then the tax was expanded to a further 65 commodities.
The government claims the tax is not aimed at boosting revenues from the mineral mining sector, but to minimize the possibility of over-exploitation in anticipation of the full ban on metal ore exports planned for 2014.
As reported earlier, Trade Minister Gita Wirjawan criticized the idea of an export tax on coal, saying that such a policy could violate the contracts of work (CoW) signed between coal mining companies and the government.
Under the CoW, the amount of taxes and other financial obligations of the companies have been clearly regulated and applying additional taxes could be a breach to the contracts.
Indonesia, the world’s largest thermal coal exporter, produced 275 million tons of coal last year.
This year, the government has set the production target at 332 million tons, while the Indonesian Coal Mining Association (APBI) calculates that the amount might reach 380 million tons.
Source: The Jakarta Post
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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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- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
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- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
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- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
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- Electricity Generating Authority of Thailand
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- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
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- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
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- Latin American Coal - Colombia
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- Rashtriya Ispat Nigam Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Price Waterhouse Coopers - Russia
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- Minerals Council of Australia
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- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
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- Cement Manufacturers Association - India
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- Australian Coal Association
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- Larsen & Toubro Limited - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Indonesian Coal Mining Association
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- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Indian Energy Exchange, India
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- Directorate Of Revenue Intelligence - India
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- Energy Link Ltd, New Zealand
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- Directorate General of MIneral and Coal - Indonesia
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- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Parliament of New Zealand
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- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
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- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
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- Xindia Steels Limited - India
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- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
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- Chamber of Mines of South Africa
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- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
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- Power Finance Corporation Ltd., India
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- Petron Corporation, Philippines
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- Kapuas Tunggal Persada - Indonesia
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- Gujarat Electricity Regulatory Commission - India
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- Timah Investasi Mineral - Indoneisa
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- IHS Mccloskey Coal Group - USA
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- MS Steel International - UAE
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
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- Planning Commission, India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
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