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 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
|
|
|
Showing 5681 to 5685 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
|
| |
| |
|
