Australia has posted a record monthly trade surplus of $3.54 billion dollars for the June period. The Australian Bureau of Statistics said that this was the highest surplus ever recorded.
Whilst the coal sector in Australia is consolidating gains and attracting new investments, Whitehaven Coal (ASX:WHC) is said to have refused an informal approach for a takeover bid but has confirmed it is in discussions with other companies over potential corporate transactions.
The global recession seems to be dissipating as more investments get planned for the mining industry. Mining giant Xstrata is all set to invest $ US5.3 billion to build a copper mine in Peru and to expand a coal mine in New South Wales, Australia.
Australian mining and construction company Thiess is currently in negotiation with the 200 workers at a coal mine in Queensland. Workers at the Collinsville mine went on strike on Tuesday over job security concerns and pay disputes.
Cougar Energy (ASX: CXY) may have reason to celebrate although it is not quite out of the woods yet. The underground coal gasification plant near Kingaroy QLD had been put on hold last month when traces of benzene and toluene were found in bore water supplies in close to the plant.
Bandanna Energy Limited (ASX:BND) has stepped up its drilling activity with the addition of a sixth drill rig. Three rigs are now currently drilling in Bandanna's Golden Triangle area and three, operated by AMCI, are drilling in the South Galilee Project area.
Bore water tested at the site of the Cougar Energy plant near Kingaroy, Queensland has been found to be under permissible limits for levels of benzene and toluene.
The short respite won by Prime Minister Julia Gillard's intervention and negotiations with heads of the mining majors seems to be over with a new anti-tax campaign about to commence.
If Fortescue Metals Group Ltd CEO Andrew Forrest has his way Prime Minister Julia Gillard can forget about having the new mining law passed in its current form after the elections.
The National Mining Association (NMA), representing the interests of mining industry in the U.S., filed a law suit Tuesday against the U.S. Environmental Protection Agency (EPA) and the Army Corps of Engineers, claiming the agencies are "unlawfully obstructing permitting of coal mining operations" in Central Appalachia.
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