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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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Friday, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
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- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Australian Coal Association
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
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