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, 26 October 12
DRY BULK MARKET FALLS ON WORRIES THAT RECENT RALLY WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market retreated yesterday as a result of a plunge of the Capesize dry bulk carriers' segment, after their latest rally. As a result, ...
Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
|
|
|
Showing 4531 to 4535 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Coal and Oil Company - UAE
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
|
| |
| |
|
