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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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Showing 4926 to 4930 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- The University of Queensland
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Australian Coal Association
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
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