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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, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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