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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, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Parliament of New Zealand
- Planning Commission, India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- White Energy Company Limited
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
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