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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
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Thursday, 16 June 11
BOOSTING THE USE OF LOW CARBON ENERGY FOR A BETTER WORLD
Bali, Indonesia host of world renewable energy congress – Indonesia, international conference & exhibition on renewable energy and energy ...
Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
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Showing 5226 to 5230 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
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