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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
|
|
|
Showing 4741 to 4745 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
|
| |
| |
|
