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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
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