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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
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- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Bhatia International Limited - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
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