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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
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Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
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Showing 4811 to 4815 news of total 6871 |
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- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
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