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Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
 The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining industry which are now mostly facing financial difficulties due to the continued drop in coal prices.
“The royalty we receive from the coal mining industry is still small. There is no way for us to provide tax incentive for them,” Finance Ministry interim fiscal agency head Bambang Brodjonegoro told reporters Friday.
The idea of providing tax incentive to coal mining companies came from Deputy Energy and Mineral Resources Minister Rudi Rubiandini, who said Thursday that the government would need to provide fiscal incentives to ease coal miners’ financial hardship if the coal price fall continued.
He promised that the government would provide the tax incentive if the coal price continue to fall and reach US$60 per ton.
As of late last month, Indonesia’s coal reference price (HBA) fell to $84.65 per ton, declining 3.4 percent from $87.56 in July and 25 percent from its high of $112.87 in March.
Some of the country’s major coal producers have revised their annual target due to the declining coal prices.
For example, PT Adaro Energy, the nation’s second-largest thermal coal producer, has revised its annual production target for 2012 to between 48 million and 50 million metric tons, down from 50 million to 53 million tons.
PT Berau Coal Energy, a subsidiary of London-listed Bumi Plc., said it would also lower its production forecast to 20 million and 22 million tons, down from 23 million tons.
Institute for Essential Services Reform energy and mining expert Fabby Tumiwa said that he could not comprehend Rudi’s reasoning to provide tax incentives to the coal mining industry.
“The coal mining industry is a mature industry with a production of 350 million tons per year ... Over 8,000 licenses have been issued for coal companies. With these kinds of condition, I do not see any reason for the industry to receive a tax incentive,” Fabby said.
“If the main reasoning is the declining coal price rates, then it is not a good enough reason for the tax incentive. Commodity price fluctuates regularly and there is no need for the government to interfere in this commodity market mechanism,” he added.
“I believe what the government needs to do right now is to increase royalty from the coal mining industry because as of now, this industry’s royalty contribution has not yet been able to compensate the natural resource damages caused by massive coal exploitations,” he said further.
As of now, the state only receives around 13 percent of royalty from the coal mining industry’s total production. Based on the Supreme Audit Agency (BPK) audit data issued in April, the country suffered Rp 428 billion ($45.03 million) of coal royalty losses in 2011.
Fabby also said that the government also needed to better manage the coal mining industry in the country to prevent over-exploitation rather than pampering mining corporations using incentives.
“We need to have a coal export moratorium as soon as possible because currently, our reserve is depleting fast,” he said.
With the current production rate, Indonesia’s coal reserve, which stands at around 28 billion tons, could run out in around 20 years.
Source: The Jakarta Post
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Thursday, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
Thursday, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
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Showing 4521 to 4525 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- The University of Queensland
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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