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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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Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
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- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
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