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Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be replaced with a Mineral Resource Rent Tax (MRRT).
Rio Tinto has consistently maintained that any tax reform proposal should not be applied retrospectively and must retain Australia’s international competitiveness as an investment destination.
David Peever, Managing director Rio Tinto Australia, said that today’s announcement by the Government is an important step towards satisfying these fundamental principles.
“We all want a minerals taxation system that grows the mining industry in Australia. A strong mining sector keeps the Australian economy strong, spreading prosperity to all Australians,” Mr Peever said.
“The Prime Minister’s announcement follows constructive discussions over the past week between the Government and mining companies. There is, however, still a lot of work to do. As one of Australia’s biggest taxpayers, Rio Tinto is committed to working constructively with Government to ensure that the tax system continues to encourage investment in Australia.”
The MRRT proposal is an improvement on the RSPT. Recognition of market value for existing mines and a reduction in the headline tax rate represent significant progress in achieving Rio Tinto’s fundamental principles of tax reform.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.
Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.
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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
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- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- MS Steel International - UAE
- Petron Corporation, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
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