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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, 09 September 10
INDONESIA SWAPS COAL FOR INFRASTRUCTURE - FT
As Asia’s major economies bound forward and their hunger for energy surges over the next decade, Indonesia is strategically positioned to take ...
Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
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- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
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