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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, 20 June 11
KPCL SETS ALL INDIA & POSSIBLY A WORLD RECORD FOR COAL DISCHARGING
COALspot.com - Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unload ...
Monday, 20 June 11
5TH ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2011 IS ON THE WAY
Press Release - Since the beginning of 2011, international commodity price has been in a high level, resulting in “TENSION” of energy co ...
Sunday, 19 June 11
S6 AND S7 ROUTES LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market seemed to be stabilizing and the BDI and Cape index was up marginally and closed at 1,423 points and 1,824 points ...
Sunday, 19 June 11
BUMI 1Q NET PROFIT INCREASES 16.5 PERCENT
PT Bumi Resources Tbk (BUMI), Indonesia's largest coal exporter that is 25% owned by London-listed Vallar Plc, reported a16.49% increase in net pro ...
Friday, 17 June 11
DRY BULK BREATHES SIGH OF RELEAF ON RENEWED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has caught a sign of relief from the middle of the week onwards, as the BDI (Baltic Dry Index) increased once again yesterday, t ...
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- Commonwealth Bank - Australia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
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