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.
|
|
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
|
|
|
Showing 4991 to 4995 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- The University of Queensland
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
|
| |
| |
|
