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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
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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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Showing 5911 to 5915 news of total 6871 |
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- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
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