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.
|
|
Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
|
|
|
Showing 5441 to 5445 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
|
| |
| |
|
