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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, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
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- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Planning Commission, India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
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