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.
|
|
Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
|
|
|
Showing 4881 to 4885 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
|
| |
| |
|
