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, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
|
|
|
Showing 5216 to 5220 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Deloitte Consulting - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
|
| |
| |
|
