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.
|
|
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
|
|
|
Showing 4946 to 4950 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Australian Coal Association
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
|
| |
| |
|
