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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Monday, 24 May 10
INDONESIAN COAL PRICE REFERENCE (HBA) FOR MAY 2010 REACHES US$ 92.07 PER TON FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has released Indonesian coal price reference (HBA) for Month of M ...
Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...
Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...
Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing.
The BD ...
Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...
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- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
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