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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
|
|
|
Showing 6016 to 6020 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- VISA Power Limited - India
- The University of Queensland
- Planning Commission, India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
|
| |
| |
|
