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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, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...
Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...
Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...
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- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
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