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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, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- Minerals Council of Australia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
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