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, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
|
|
|
Showing 4791 to 4795 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
|
| |
| |
|
