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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
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Tuesday, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
Monday, 29 October 12
US COAL EXPORTS ARE EXPECTED TO REACH 125 MILLION TONS THIS YEAR - EIA
COALspot.com - US coal exports are expected to reach 125 million tons this year, surpassing the old record of about 113 million tons set in 1981, sa ...
Sunday, 28 October 12
SUB-BIT INDONESIA COAL SWAPS (FOB ) FOR DECEMBER 2012 DELIVERY STAYED FLAT D-D
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery flat on D-D but gained 0.38 percent on W-W on Friday, 26 October 2012, ...
Sunday, 28 October 12
INDONESIA TO INDIA SUPRAMAX FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - The Cape size sector continued to remain active with iron ore movement being steady. All other sectors were down.
The BDI was up b ...
Friday, 26 October 12
SHIPPING MARKETS HEADING FOR DIVISION AND MULTI-TIER WILL BECOME THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It seems that something is expected to be fundamentally different in the way that the shipping markets will be operating in the future, according to ...
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Showing 4526 to 4530 news of total 6871 |
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- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Australian Coal Association
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
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