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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, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
Monday, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
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- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Latin American Coal - Colombia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
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