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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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Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
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- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
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