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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
|
|
|
Showing 5001 to 5005 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
|
| |
| |
|
