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.
|
|
Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
Thursday, 26 January 12
ABM INVESTAMA SEALS US$100 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, PT Reswara Minergi Hartama, a subsidary of PT ABM Investama Tbk (ABMM), has sealed a 2 million tons of coal export co ...
Thursday, 26 January 12
DRY BULK MARKETS DOWNFALL KNOWS NO LIMITS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s demise seems to have no visible end, as China’s Lunar Year Holidays continue this week, thus leaving demand with n ...
Wednesday, 25 January 12
CLEAN AND CLEAR MINING PERMITS TO BE COMPLETED END OF 2012 - BISNIS.COM
Bisnis.com reported that, the government plans to announce 700 mining permits with "clean and clear" status without overlapping on other p ...
Tuesday, 24 January 12
ANOTHER SEVERE DROP IN THE CAPESIZE - BRS
The lunar year celebrations and the high number of new building deliveries (more than 35 Capes so far in January as owners push 2011 deliveries into ...
|
|
|
Showing 4871 to 4875 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
|
| |
| |
|
