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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, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
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- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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