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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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Tuesday, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
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- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- VISA Power Limited - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
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