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, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
|
|
|
Showing 4726 to 4730 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Parliament of New Zealand
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
|
| |
| |
|
