BP shares plummeted to 355 pence as investors worried about the rising costs of the Gulf of Mexico oil spill crisis. U.S. President Barack Obama visited the spill hit areas and vowed to use all his power to heal the Gulf Coast. He was speaking at a staging post for oil clean up efforts.
By Joel Scanlon
15 Jun 2010
The Mine Safety and Health Administration (MSHA) removed Stephen Gigliotti from an internal review team on Thursday which was investigating the government actions prior to the April explosion at a Massey Energy Co. mine ...
The image of Afghanistan as a poor under developed country may soon need a change as Pentagon geologists have placed the value of mineral deposits in the country at an estimated US$1 trillion.
By Joel Scanlon
15 Jun 2010
A new deal has been signed by mining giant BHP Billiton for $3 billion with Liberia for iron ore. The BHP Billiton’s Chief Executive Officer for Ferrous and Coal, Marcus Randolph said that the company was enthusiastic about the new investment and was looking forward to moving ahead with it.
Rio Tinto's iron ore chief, Sam Walsh, was awarded an Order of Australia in the Queen's birthday honours list. The award list is run through the governor general's office and the honour is meant to be non-political.
By Joel Scanlon
14 Jun 2010
The Rio Tinto Alcan mine has had a mishap where 70,000 liters of unleaded fuel leaked out of a tank at a Rio Tinto refinery at Nhulunbuy on the Gove Peninsula. The fuel spill has been contained as per the officials of the Northern Territory Department of Resources.
According to data provided by a model produced by KPMG on the mining industry the proposed RSPT from the federal government will make the mining companies in Australia pay 42% higher tax rates than the global average.
By Joel Scanlon
14 Jun 2010
There is a new critic from the mining industry over Australian Prime Minister Kevin Rudd's proposed 40% RSPT.
The Australian Prime Minister Mr. Kevin Rudd is used to defending his government’s proposed policies as was evident in the health reform case. It seems it will be no different in case of the mining industry with th...
By Joel Scanlon
10 Jun 2010
Making another attempt to hit out at the Resources Super Profits Tax in Australia, mining giant BHP Billiton sent out a letter to shareholders pointing out a supposed flaw in the law.
Queensland Alumina Ltd pleaded guilty yesterday to causing serious environmental harm after an industrial incident in a Gladstone alumina refinery last year. The court has fined the company $90,000 plus $20,000 in costs.
By Joel Scanlon
9 Jun 2010
Chalco's denial of its alleged pull out of the deal to set up a bauxite refinery at Aurukun in North Queensland over the resources super tax may be more than posturing. The viability of the project has been doubted for more than 12 months within the company.
By Joel Scanlon
9 Jun 2010
According to economic forecaster BIS Shrapnel, mining and heavy industry construction, which accounts for one third of Australia’s A$25 billion ($21 billion) building sector, is expected to drop 3 percent in the 12 months ending June 30, 2011.
By Joel Scanlon
9 Jun 2010
Australian Securities and Investments Commission (ASIC) acting chairman Belinda Gibson has made it clear that the ASIC will not take kindly to miners who are exaggerating the impact of the mining super tax (RSPT) on their projects.
A community cabinet meeting in Western Australia in Perth last night gave Prime Minister Kevin Rudd a chance to answer concerns over the new mining super profits tax. There were protests with placards at the community ca...