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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Parliament of New Zealand
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
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