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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, 26 July 10
CEMENT MAKERS EXPLORE NEW FUELS TO REPLACE COAL - ECONOMIC TIMES
Economic Times reported that, As the cement industry reels under high raw material costs and reduced coal linkages, companies are exploring alternat ...
Saturday, 24 July 10
INDONESIAS BUKIT ASAM H1 2010, SALES RAISED 10% TO 6.44 MILLION TONS
COALspot.com: PT Tambang Batubara Bukit Asam (PTBA), Indonesian state owned mining company’s H1 2010, sales raised 10% to 6.44 million tons. T ...
Saturday, 24 July 10
INDONESIAN COAL MINERS ARE REQUIRED TO SUPPLY 64.96 MLN TONS OF COAL TO DOMESTIC MARKET IN 2010
COALspot.com : Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree related to Domestic market obligation (DMO) for ...
Saturday, 24 July 10
THE BDI SEEMS TO BE RECOVERING AND WAS UP BY ABOUT 6 PCT - CAPT. REDDY
COALspot.com: "The BDI seems to be recovering and was up by about 6 pct this week after losing for almost last 7 weeks", said Capt. Reddy, ...
Saturday, 24 July 10
ANALYSIS - GROWTH IN VESSEL SUPPLY PRESSURES OCEAN FREIGHT RATES
It's common to use global shipping rate trends as a proxy of global economic health. If demand for goods and raw materials are strong, so should it ...
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- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- The University of Queensland
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
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