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, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
Thursday, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
|
|
|
Showing 4511 to 4515 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
|
| |
| |
|
