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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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Thursday, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
Thursday, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
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- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
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