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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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Monday, 27 February 12
INDONESIAN COAL EXPORTS TO CHINA DROPS 39.76 PERCENT IN JANUARY 2012
COALspot.com: Indonesia, the world largest coal exporter, shipped 28.21* mln mt of coal in January 2012, slightly lower than its December 2011 ...
Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
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- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- PTC India Limited - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
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