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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- The University of Queensland
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
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