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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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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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Showing 6036 to 6040 news of total 6871 |
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- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
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