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.
|
|
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
|
|
|
Showing 5791 to 5795 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- White Energy Company Limited
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
|
| |
| |
|
