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Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
 The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday that also would invest in infrastructure to support mining operations and reduce corporate taxes.
The new 40 percent tax on resoure profits targets industries that have grown rapidly as they've produced the raw materials that feed burgeoning Chinese and Indian manufacturing demand.
Mining royalties currently paid to Australian state governments do not reflect rising commodity prices. The government says mining profits rose by 80 billion Australian dollars ($74 billion) in the past decade, yet government revenues from resources increased by only AU$9 billion.
Andrew Forres, chief executive of Fortescue Metals Group Ltd., last week warned that higher taxes on mining could "kill the golden goose" that had kept Australia out of recession during the global economic downturn. Mine companies also say higher taxes would stifle investment in the resource sector and cost jobs.
Thetax overhaul Prime Minister Kevin Rudd proposes requires Parliament's endorsement to become law. It would introduce the so-called Resource Super Profits Tax in July 2012. The company tax rate would be cut from 30 percent to 29 percent in July 2013 and to 28 percent a year later.
The government forecasts tht the cut in company tax combined with the mining tax will increase Australia's gross domestic product by 0.7 percent a year.
"These changes will not be welcomed by every business or every interest group, but they are the considered, responsible changes we need if we are to turn our success during the gloal recession into enduring gains for our economy, our people and our nation," Rudd said in a statement.
Treasurer Wayne Swan told reporters he could not say whether tax legislation would be introduced to Parliament before national elections are held at a date to be set late this year.
Under the tax overhaul, resource-rich states would continue to reap mining royalties, but the federal government would refund those costs to mining companies before calculating their federal tax debt.
The tax would be levied on profits after all the costs of mining operations, capital investment and dividends to shareholders are deducted.
Marginally viable mine companies would potentially be better off in cases where the costs of extracting minerals barely cover royalty charges because of a price downturn or when the ore deposit is almost exhausted.
About AU$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
Thursday, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
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- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
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