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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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Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- White Energy Company Limited
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
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