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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
Thursday, 17 June 10
COAL EXPLORATION & DEVELOPMENTS HOTPOTS CONFERENCE
Press Release: The Coal Exploration and Developments Hotspots conference will bring together a panel of more than 20 of the world’s lead ...
Thursday, 17 June 10
AUSTRALIA'S LEIGHTON WINS $1.3 BILLION OF NEW WORK - THE JAKARTA POST
Australian construction and contract mining group Leighton Holdings Ltd. said Thursday it has won 1.5 billion Australian dollars ($1.3 billion) of n ...
Wednesday, 16 June 10
INDONESIAS STATE OWNED ELECTRICITY COMPANY WILL CONSUME 95.30 MILLION TONS OF COAL IN 2014
COALspot.com: Indonesia's state owned electricity company forecasted its coal requirement in 2014 would be around 95 million tons. ...
Wednesday, 16 June 10
MADHYA PRADESH GOVT IMPORT 50K METRIC TONNES OF COAL FROM INDONESIA - DNA INDIA
DNA India reported that, the Madhya Pradesh government has imported 50,000 metric tonnes of coal from Indonesia to deal with its shortage which is a ...
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- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- New Zealand Coal & Carbon
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
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