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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, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
Sunday, 25 November 12
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO BE FIRM - VISTAAR
COALspot.com - The freight market was buoyant this week with all sectors up except for the Cape size index. The BDI was up by 5.21 pct closing at 10 ...
Sunday, 25 November 12
INDONESIAN SUB BITUMINOUS COAL SWAP CONTRACTS SLIDE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for February 2013 delivery lost 0.76percent WoW but gained 0.16 percent DoD on Friday ...
Saturday, 24 November 12
DELTA DUNIA MAKMUR PRODUCES 3.2 MILLION TONS OF COAL IN OCTOBER
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 31.1 million bcm* (-4.0% YoY) of Overburden in October 2012 totaled while coal production was ...
Friday, 23 November 12
CHOOSING THE RIGHT TIME TO INVEST IN NEW VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Shipping is all about timing, a process often rising to the height of artform, as ship owners are having to pick the exact moment of selling most of ...
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- South Luzon Thermal Energy Corporation
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
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