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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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Thursday, 04 February 10
COAL PRODUCTION EXPECTED TO REACH 280 MILLION METRIC TONS - INDONESIA UPDATE
Indonesia`s coal production target for 2010 has been set at 275 million to 280 million metric tons, according to the Association of Indonesian Coal ...
Thursday, 04 February 10
MASSEY CEO 'NOT EXCITED' ABOUT PROSPECT OF QUARTERLY COAL PRICING
US coal producer Massey Energy is not in favour of switching to a quarterly pricing schedule for metallurgical coal, from the current annual price b ...
Thursday, 04 February 10
BUKIT ASAM GOES SHOPPING FOR MORE COAL MINES
State-owned coal miner PT Tambang Batubara Bukit Asam has set aside Rp 1.5 trillion ($162 million) to acquire two coal mines in East Kalimantan, pre ...
Thursday, 04 February 10
PTT EYES OVERSEAS COAL
Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal bus ...
Thursday, 04 February 10
RI TO GRADUALLY STOP COAL EXPORTS
Indonesia, which over the past few years has become the world`s third largest coal exporter after Australia and China, is planning to gradually stop ...
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Showing 6026 to 6030 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
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