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.
|
|
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
|
|
|
Showing 4981 to 4985 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
|
| |
| |
|
