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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
Tuesday, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
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- Australian Coal Association
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
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