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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
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- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- White Energy Company Limited
- Planning Commission, India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- The University of Queensland
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
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