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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, 06 November 12
NOVEMBER 2012 HBA $35.21 LOWER THAN A YEAR AGO
COALspot.com - The Indonesian government’s declared coal reference price for November’ 12 has lost US$ 4.60 per MT M-o-M.
...
Sunday, 04 November 12
SUB-BIT INDONESIA COAL SWAPS FOR DECEMBER' 12 DELIVERY FALLS TO $ 59.78
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery fell -1.02 percent on WoW but gained 0.08 percent on D-D on Friday, 2 ...
Saturday, 03 November 12
THE SUPRAMAX FREIGHT EXPECTED TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - This week the market remained soft with all the sectors soft.
The BDI and was down by 6 pct closing at 986 points. The cape index ...
Saturday, 03 November 12
DEMOLITION IS THE KEY FOR DRY BULK SHIPPING'S RECOVERY SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the number of new building deliveries so far in 2012 already having surpassed the total of 2011, it's more than clear that the dry bulk sector ...
Thursday, 01 November 12
INDONESIA HAS REVISED DOWN ITS 2012 DOMESTIC MARKET OBLIGATION REQUIREMENT FOR COAL
COALspot.com - Minister of Energy and Mineral Resources of Indonesia has revised down its 2012 domestic market obligation requirement due to lower d ...
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- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- The University of Queensland
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
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