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2015 Mining Revenues Far Below Target

Translator

Editor

15 February 2016 17:10 WIB

Trucks and machinery are pictured at a PT Exploitasi Energi Indonesia Tbk coal mine at Palaran district in Samarinda. Indonesia may be the world's top exporter of thermal coal, but that masks an embarrassing fact for a government scrambling to raise revenue - more than $5 billion worth of the fuel is mined illegally and goes untaxed each year. REUTERS/Zevanya Suryawan

TEMPO.CO, Jakarta - The Ministry of Energy and Mineral Resources noted the non-tax state revenue from the mining sector in 2015 reached Rp29.6 trillion. This figure is only 56 percent of the target set by the government at Rp52.2 trillion.

The actual amount of profits sharing from the mining sector is also low, at just Rp17.7 trillion from the initial target of Rp24.6 trillion.

Sri Rahardjo, Director of Program Development of Mineral and Coal at the Ministry of Energy and Mineral Resources, said that the low revenue happened because the targets were too high.

In early 2015, the targets were set based on the assumption that coal royalty could increase by 13.5 percent. However, the royalty hike plan—stipulated in the revision of Government Regulation No.9/2012 on non-tax revenue types and tariffs—was canceled. Sri said that these commodities still dominate the mining sector's non-tax revenue, accounting for 80 percent.

oal production in 2015 only reached 383 million tons, below the targeted 425 million tons. Prices also plummeted, with the coal benchmark price (HBA) only reaching US$53.51 per ton at the end of last year, far below the early-year price of US$63.84 a ton.

Another factor contributing to the low revenue, Sri said, is the minimum payment of non-tax arrears. Royalties that have not been paid by 2,000 companies with mining permits Rp2.4 trillion. For this matter, the Ministry has sent warning letters to the defaulters.

Ladjiman Damanik, chairman of the Indonesian Mineral Employers Association (Apemindo), said that most of the association members are experiencing financial difficulties due to low commodity prices and the ban on raw mineral export since 2014.

Right now, he said, mining companies are only carrying out production activities just to sustain their finances. "They are selling at a loss. What we can do right now is limited to maintaining cash flows," he said.

In 2016, the non-tax revenue target from the mining sector is set at Rp42 trillion. According to Sri, there is the discourse to revise the target, considering how prices are still on a downtrend.

ROBBY IRFANY | REZKI ALVIONITASARI



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