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, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
|
|
|
Showing 5831 to 5835 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- VISA Power Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
|
| |
| |
|
