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, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
|
|
|
Showing 5316 to 5320 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
|
| |
| |
|
