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.
|
|
Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
|
|
|
Showing 5991 to 5995 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- White Energy Company Limited
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
|
| |
| |
|
