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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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Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
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Showing 4921 to 4925 news of total 6871 |
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- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- The University of Queensland
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
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