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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
|
|
|
Showing 5836 to 5840 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- The University of Queensland
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
|
| |
| |
|
