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.
|
|
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
|
|
|
Showing 5466 to 5470 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- VISA Power Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Planning Commission, India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
|
| |
| |
|
