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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
Monday, 05 March 12
SOME RESOURCE TITANS NOT THRILLED WITH INDONESIAN EXPORT BAN - THE JAKARTA GLOBE
The Jakarta Globe reported that, local representatives of major business associations in East Kalimantan have protested a government regulation that ...
Monday, 05 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
An air of optimism poured in the market this week for dry bulk shippers with the Baltic Dry Index recording daily gains during the end of February b ...
Sunday, 04 March 12
SE ASIA WAS FIRM FOR TRIPS TO INDIA AND CHINA - VISTAAR
COALspot.com - This week saw another upward trend with all indices up and generally market was firm.
The BDI was up by 7.38 pct closing at 771 po ...
Friday, 02 March 12
DJMBP HAS ANNOUNCED SECOND BATCH OF CLEAR N CLEAN CERTIFIED MINERS
COALspot.com - The Directorate general of mineral & coal of Indonesia has announced second batch of companies who have passed IUP Clear and Clea ...
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Showing 4826 to 4830 news of total 6871 |
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- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
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