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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, 20 January 10
NALCO SEEKS CONSULTANT FOR $4 BILLION INDONESIAN SMELTER, PLANT
National Aluminium Co., India’s second-biggest producer of the metal, called for bids for a consultant on its proposed aluminum smelter and co ...
Wednesday, 20 January 10
NTPC PLANS TO SET UP ARM FOR ACQUIRING COAL ASSETS ABROAD
NTPC, the world’s second-largest independent power producer (IPP), plans to set up a new entity for acquiring coal assets abroad to secure fue ...
Wednesday, 20 January 10
CEMENT FIRMS TO BUY POWER PLANT COAL ASH
CEBU, Philippines - Cement companies in Cebu are interested to buy the coal ash that will be produced from the coal-fired power plant in Toledo City ...
Tuesday, 19 January 10
CHINA TO INCREASE THERMAL COAL IMPORTS - WEN
China's Premier Wen Jiabao said on Tuesday that China will appropriately increase imports of thermal coal to ease the country's power shortages.
...
Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
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Showing 6071 to 6075 news of total 6871 |
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- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
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