We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
|
|
|
Showing 4996 to 5000 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Planning Commission, India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
|
| |
| |
|
