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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
|
|
|
Showing 5851 to 5855 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
|
| |
| |
|
