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.
|
|
Tuesday, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
|
|
|
Showing 5301 to 5305 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
|
| |
| |
|
