Overview on Coal Mining in Different Countries
Overview on Coal Mining in Different Countries
Overview on Coal Mining in Different Countries
Australia
There has been aggressive expansion in coal mining sector in last thirty years. Australia is the 4th largest producer of coal in world. Australia contributes 53% of world exports of coking coal. Australia recently announced its new tax policy and has imposed 40% super profit tax applicable from July 2012. This super profit tax will raise $12 billion in the initial two year of implementation by the government.
This super profit tax rates will cut down profits of big mining giants like Rio Tinto, BHP Billiton and Xstrata. According to company officials of Rio Tinto, this tax changes will increase total tax rate to 57% from current 43% impacting the future earnings and growth plan of the company in this sector.
Mining companies in Australia are now re-strategizing their investments and are planning to shift their focus to other countries which have mining potential and offer better tax environment and growth potential economic conditions. More than $20 billion of new resource investment in Australia has been put on hold by miners because of the super profit tax raise.
Indonesia
Indonesia is currently the world's third largest exporter of thermal steam coal after Australia and China. It is 4th most populated country and has strong domestic demand of coal. This domestic demand of coal has increased in past years with increase in population. The country has faced many natural calamities in past years like frequent earthquake and heavy rainfall, hence the government have introduced new green policies to prevent such future environmental problems.
The new mining policy introduced by the government emphasizes on more domestic demand and implementation of green policy which as per the trade analyst would reduce coal export from Indonesia. Many Indian giants like Reliance, Essar, India Cements are going to enter Indonesian coal mining industry. Rachana Global is an Indian company who owns several coal mines in Indonesia and operate in various other places like Mozambique, Columbia, Zambia and Congo.
African Countries
Africa's increased economic momentum is widely, recognized, its sources and likely staying power are less understood. Soaring prices for oil, minerals and other have lift GDP since 2000. Yet Africa's collective GDP, is at $ 1.6 trillion in 2008, is now roughly equal to Brazil's or Russia's, and the continent are among the world's most rapidly growing economic regions. The key reason behind this growth surge included government action to end armed conflicts, improved macroeconomic conditions and undertake microeconomic reforms to create a better business climate. Africa's economic grew healthier as government reduced the average inflation rate from 22% in the 1990s to 8% after 2000.
The annual flow of foreign direct investment into Africa increased from $ 9 billion in 2000 to $ 62 billion in 2008.
Mozambique is one of the fourth fastest Africa growing countries, it has an annual GDP growth rate of 4.5% as on 2009 and is emerging as one of the most preferred destination for investment as especially in the mining sector. Currently the country GDP is $17.64 billion with Per Capita GDP of $465 as on 2009. The government of Mozambique has implemented an investor friendly mining policy for exploring the natural resources in Mozambique. Some of the early foreign entrant's who have acquired mining licenses in Mozambique were CVRD and Rachana Group of India.
The Government has developed Rail infrastructure by doing a Joint Venture with IRCON International of India and RITES of India for rebuilding the 650-kilometer rail line from Beira to Tete.
Rachana group is one of the largest holder of mining licenses of natural resources major being Coal, Iron Ore, Gold etc. The group has sold its coal licenses to company's like JSPL, JSW, Top Worth etc. As per Mr. Manoj Sompura Promoter & Managing Director, the group is looking at the opportunity of starting mining activities in its coal mines after the successful test of rail lines by the government and also advantageous locations of its mine to the rail infrastructure. Christmas Candle Holder Wonderful Tourist Attractions in Central America New Old Vallarta Budget Hotel Options As Well As Genuine Views For Tourists Don't Forget to have Mobile Phone Accessories while Travelling Gay Travel In 2010 To Ecuador An Introduction to African Instruments Enjoying the World Cup Soccer Festival Graham Christmas Pudding London Cleaning Companies at Their Best Driving Restrictions in Australia for a Perfect Holiday Remove Belly Fat: 5 Tips And Hints On How To Strip Away Belly Fat! Car Hire Brisbane Will Add Fun To Your Holidays London Hotels Offer End Number Of Choices