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.
|
|
Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
|
|
|
Showing 4581 to 4585 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
|
| |
| |
|
