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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
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...
Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones. Coal production in 2008 reached 231,18 mi ...
Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...
Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...
Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct
* Sees opportunities for overseas acquisitions
Indonesian state-owned coal miner Bukit Asam saw 2009 ...
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Showing 6031 to 6035 news of total 6871 |
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- Interocean Group of Companies - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
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