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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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Tuesday, 09 August 11
INDONESIAS COAL PRODUCTION GREW BY 19.4% LAST YEAR - BP
COALspot.com - Indonesia’s coal production grew by 19.4% last year to 305.879 million tonnes from 256.181 million tonnes in 2009, the fastest ...
Tuesday, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
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- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
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