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.
|
|
Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
|
|
|
Showing 4626 to 4630 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
|
| |
| |
|
