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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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Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
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