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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, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Australian Coal Association
- Aditya Birla Group - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
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