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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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Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
Thursday, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
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Showing 4816 to 4820 news of total 6871 |
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- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- The University of Queensland
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
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