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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, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- PTC India Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- The University of Queensland
- MS Steel International - UAE
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
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