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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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Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
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- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
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