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, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
|
|
|
Showing 5451 to 5455 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
|
| |
| |
|
