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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, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
Tuesday, 04 December 12
NEWCASTLE PORT SHIPPED 55.88 PERCENT MORE COAL W/E 3 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,796,341 MT of thermal and coking coal for week ended 0700 hours 3 December 2012, Newca ...
Sunday, 02 December 12
YEAR 2013, YEAR OF SUPPLY OR DEMAND?
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1 2013 delivery gained 2.87 & 0.83 percent MoM and WoW respectively ...
Saturday, 01 December 12
TIGHT SUPPLY, DEMAND PUSH INDO-INDIA SUPRAMAX FREIGHT RATES HIGHER - VISTAAR
COALspot.com - The freight market was mixed this week as cape and Panamax indices are closing softer.
The BDI was down 0.37 pct closing at 1,086 ...
Friday, 30 November 12
FUTURE TREND OF SECOND HAND SHIP VALUES PUZZLING SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the major challenges that ship owners are facing today is whether or not to invest in a second hand vessel at any given time. For instance, i ...
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- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- White Energy Company Limited
- The University of Queensland
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
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