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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$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per ce ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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Showing 5916 to 5920 news of total 6871 |
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- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
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