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.
|
|
Friday, 26 August 11
INTRACO EYES US$200 MIO COAL TAKEOVER - INSIDER STORIES
Heavy equipment distributor PT Intraco Penta Tbk, that was founded by Halex Halim, is scouting a coal acquisition with the valuation above US$200 mi ...
Thursday, 25 August 11
OPG EXPECTS COAL PRICES TO REMAIN FIRM IN THE SHORT TERM
COALspot.com - Revenue of OPG, the developer and operator of Group Captive power plants in India up 188% to £33.15m and Income from continuing ...
Thursday, 25 August 11
PAITON POWER LOOKING FOR 3.96 MILLION TONS OF COAL
COALspot.com - PT Pembangkit Jawa Bali (PJB) is looking for 3.96 million tons coal with calorific value 4,800 kcal/kg on as received basis. Accordin ...
Tuesday, 23 August 11
ICMA CALLS GOVERNMENT TO REVIEW EXPORT BAN REGULATION
COALspot.com - Chairman of the Indonesian Coal Mining Association (ICMA) Bob Kamandanu asks the government to review the regulation that being draft ...
Tuesday, 23 August 11
ADARO ENERGY ACQUIRES 75% STAKE OF PT MUSTIKA INDAH PERMAI FOR US$ 222.5 MILLION
COALspot.com - PT Alam Tri Abadi, a wholly owned subsidiary of PT Adaro Energy Tbk, signed a share purchase agreement to acquire a 75% stake of PT M ...
|
|
|
Showing 5116 to 5120 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
|
| |
| |
|
