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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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Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Australian Coal Association
- Sojitz Corporation - Japan
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
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