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.
|
|
Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
|
|
|
Showing 4656 to 4660 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- MS Steel International - UAE
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
|
| |
| |
|
