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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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Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
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- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- The University of Queensland
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Planning Commission, India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
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