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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, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
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- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Minerals Council of Australia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
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