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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Thursday, 22 April 10
INDONESIAN COAL PRICE REFERENCE FOR MARCH 2010 - US$ 86.64/T
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has begun publishing a monthly coal price reference (HBA) to be use ...
Thursday, 22 April 10
NEED TO IMPORT 82 MT COAL IN FISCAL - INDIA COAL MIN
Indian Express reported that, anxious to bridge the ever-widening gap between the rising demand for coal and its inadequate supply, the Coal Ministr ...
Thursday, 22 April 10
DRY CARGO DEMAND EXPECTED TO INCREASE, FAVORING HIGHER FREIGHT RATES
Increased dry bulk cargo demand is expected to become the norm in the coming weeks and months, according to analysts, which in turn should sustain f ...
Thursday, 22 April 10
INDIA'S BORL SEEKS TO BUY INDONESIAS LOW - SULFUR COAL
COALspot.com: Bharat Oman Refineries Ltd, a joint venture company (promoted by Bharat Petroleum Corporation Ltd, India and Oman Oil Company Lt ...
Wednesday, 21 April 10
INDONESIA SHIPPED 13.24 PERCENT MORE COAL IN MARCH THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 27,615,191 MT of coal in March 2010, compare to 24.38 million tons in January and ...
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- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- Economic Council, Georgia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
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