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, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
|
|
|
Showing 4781 to 4785 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- The University of Queensland
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
|
| |
| |
|
