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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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Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
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