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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
|
|
|
Showing 5711 to 5715 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
|
| |
| |
|
