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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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Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
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- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Deloitte Consulting - India
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