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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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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS
Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as d ...
Sunday, 14 March 10
THERE IS NO INDICATION OF SLOWING DOWN OF IRON ORE AND COAL IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com: The dry bulk freight market continued the upward trend and the BDI closed 8.14 pct this week.
The Cape index up by 10.32 pct ...
Saturday, 13 March 10
INDONESIA COAL EXPORTS DROP IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons in January 2010 which fell slightly to 22.89 mln ton of coal i ...
Saturday, 13 March 10
INDONESIA TELLS BUKIT ASAM TO DITCH PARTNER IN SUMATRA RAILWAY UNLESS PROJECT STARTS
The Jakarta Globe reported that, the Indonesian government has urged state-owned miner PT Tambang Batubara Bukit Asam to look for new partners to he ...
Saturday, 13 March 10
OPTIMUM COAL AIMS TO RAISE R1,6 BILLION IN LISTING
All Africa reported that, COAL mining and exploration company Optimum Coal yesterday announced plans to list on the JSE at the end of the month ...
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Showing 5941 to 5945 news of total 6871 |
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- Agrawal Coal Company - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- The University of Queensland
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
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