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.
|
|
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
|
|
|
Showing 5251 to 5255 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
|
| |
| |
|
