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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
|
|
|
Showing 5496 to 5500 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
|
| |
| |
|
