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.
|
|
Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
Friday, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
|
|
|
Showing 5546 to 5550 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- White Energy Company Limited
- PowerSource Philippines DevCo
- PTC India Limited - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Parliament of New Zealand
|
| |
| |
|
