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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, 25 May 10
KALIMANTAN COAL RAIL PROJECT RUNS INTO COST DELAY - THE JAKARTA GLOBE
The Jakart globe reported that, A$1.5 billion coal rail and port project planned for Central Kalimantan may be delayed by a year after a review of t ...
Tuesday, 25 May 10
BUMPER YEAR PREDICTED FOR INDONESIAN COAL - THE JAKARTA GLOBE
The Jakarta globe reported that, In The country’s coal output may reach 320 million tons this year, up from 300 million tons in 2009, as produ ...
Tuesday, 25 May 10
CHINA'S COAL SHIPMENTS VIA ITS MAIN PORTS RISE BY 13.1 PERCENT IN APRIL
According to the data issued by China's Ministry of Industry and Information on May 21, in April total coal shipments via China's main ports reach ...
Monday, 24 May 10
SAMTAN TO SELL KIDECO TO INDIKA ENERGY?
Insider Stories reported that, Parent company of Indonesia's coal mining contractor PT Petrosea Tbk (PTRO), PT Indika Energy Tbk (INDY) aims to boo ...
Monday, 24 May 10
INDIA'S ESSAR SHIPPING BEGIN COMMERCIAL OPERATIONS OF BULK TERMINAL AT HAZIRA
COALspot.com: Essar Shipping Ports & Logistics Ltd. commences commercial operations of Essar Bulk Terminal at Hazira, one of India's largest dr ...
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- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- The University of Queensland
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
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