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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
|
|
|
Showing 4901 to 4905 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Australian Coal Association
- CNBM International Corporation - China
- White Energy Company Limited
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Planning Commission, India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
|
| |
| |
|
