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.
|
|
Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
|
|
|
Showing 4586 to 4590 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Parliament of New Zealand
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
|
| |
| |
|
