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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
|
|
|
Showing 5211 to 5215 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
|
| |
| |
|
