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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
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- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
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