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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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Monday, 20 August 12
CHINESE COAL SWAPS RISE, INDONESIAN COAL CONTRACTS SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost -2.05 percent W-o-W on Friday (17 August 2012) closing but gained ...
Saturday, 18 August 12
BULK FREIGHT MARKETS CONTINUED THEIR DECLINE IN LINE WITH WEAK DEMAND - VISTAAR
COALspot.com - This week also the indices fell on all segments with BDI touching lowest in almost 3 years.
The BDI closed at 714 points down by 7 ...
Thursday, 16 August 12
PUBLIC PRIVATE PARTNERSHIPS CONFERENCE 2012
Press Release - Asia’s Premier Public Private Partnerships Conference 2012 will showcase commercial opportunities for investors and developers ...
Wednesday, 15 August 12
UT GENERATED RP 3.09 TRILLION NET INCOME
COALspot.com - As of June 2012 Indonesia’s heavy equipment market grew 14%, from 8,448 units to 9,618 units (based on UT’s internal mark ...
Tuesday, 14 August 12
SAKARI ENTERED INTO JV IN CAMBODIA TO EXPLORE COAL OPPORTUNITIES
COALspot.com - Sakari joints hands with The Royal Group of Companies in Cambodia to explore and develop coal opportunities throughout the country.
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- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
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