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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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Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
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- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
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