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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
|
|
|
Showing 4851 to 4855 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
|
| |
| |
|
