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.
|
|
Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
|
|
|
Showing 5511 to 5515 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
|
| |
| |
|
