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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, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
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- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
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