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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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Friday, 15 January 10
ADARO INDONESIA STILL TOPS IN INDONESIAN COAL EXPORT RANKING
COALspot.com (Indonesia): PT. Adaro Indonesia, the world first Envirocoal producer and Indonesia's second largest thermal coal producer is top coal ...
Friday, 15 January 10
NTPC TO ADD 6,000 MW EACH YEAR IN 12TH PLAN
Will raise total generation capacity to 75,000 Mw by 2017, up from 30,644 Mw at present.
India's largest power generator NTPC, which will launch ...
Friday, 15 January 10
POSCO SAYS 2010 COKING COAL AGREEMENT MAY BE DELAYED - BLOOMBERG
Posco, South Korea’s biggest steelmaker, said an agreement on coking coal prices for this year may be delayed because major suppliers of the s ...
Friday, 15 January 10
CHINA POWER FIRMS SEEK COAL IMPORTS, SUPPLY SCARCE
China's coal-hungry power plants have turned to imported coal to cope with widespread shortages, but spot supply is scarce, traders said on Thursda ...
Thursday, 14 January 10
INDONESIA POWER REDUCES COAL SUPPLY
PT Indonesia Power will reduce coal supplies from PT Tambang Batu Bara Bukit Asam to its Suralaya Power Plant. "The coal supply for the plant s ...
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- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- White Energy Company Limited
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- The University of Queensland
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
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