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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, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
Friday, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
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- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Planning Commission, India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- The University of Queensland
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
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