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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 ($45.03 million) of coal royalty losses in 2011.
Fabby also said that the government also needed to better manage the coal mining industry in the country to prevent over-exploitation rather than pampering mining corporations using incentives.
“We need to have a coal export moratorium as soon as possible because currently, our reserve is depleting fast,” he said.
With the current production rate, Indonesia’s coal reserve, which stands at around 28 billion tons, could run out in around 20 years.
Source: The Jakarta Post
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Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
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- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
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- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Minerals Council of Australia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
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