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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
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