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New Report Looks at Australia's Mining Boom

New Report Looks at Australia's Mining Boom

Is the mining industry really the big boon for the Australian economy that it is made out to be? A new report from The Australia Institute questions this. The author of the report and economist Richard Dennis said that the political clout of the mining industry was way out of proportion with its economic reality. [More]

Report Finds Australian Miners Already Paying Over 40% Tax

By Joel Scanlon A new report that was commissioned by the Minerals Council of Australia says that miners will pay close to $23.4 billion in tax to federal and state governments in 2010-11 financial year. Deloitte Access... [More]

Guinea Looks to Adopt New Mining Code, Take 35% Stake

By Joel Scanlon In Guinea the new National Transitional Council has begun debating a mining code that proposes the government own a 35 percent stake in commodity companies. Rumors have it that the code recommends a free... [More]
Rio Tinto Unveils Bumper Profits

Rio Tinto Unveils Bumper Profits

Mining giant Rio Tinto has a ‘bumper’ $7.6 billion first half net profit. The record profit is linked to the steadily rising prices of commodities which are being driven by demand from Asian nations. [More]
Analysts Predict $8 Billion Profit for Rio Tinto

Analysts Predict $8 Billion Profit for Rio Tinto

Rio Tinto is likely to post a net profit for its first half in the region of $8 billion. The profits have been bolstered by the hike in prices of iron ore, aluminium, and copper. [More]

NALCO Receives Forest Clearance Permits for Bauxite Mining

By Joel Scanlon The National Aluminum Company Ltd (NALCO) has obtained the final forest clearance permit for bauxite mining in the Indian state of Orissa. The renewal of its bauxite mining lease for the Panchpatmali Sou... [More]

Australian Miners Will Lose Competitive Edge: Gina Rinehart

By Joel Scanlon Gina Rinehart said that the international competitiveness of Australia would be impaired by the proposed mining and carbon taxes. The iron ore heiress was speaking on the sidelines of the Boao Forum for ... [More]

China Alarmed Over Australia's Mining Reforms

By Joel Scanlon The Chinese are worried about the mining reforms that Australia is planning. With the proposed mining tax coming up the Chinese diplomat Ouyang Cheng warned it would be difficult for Australia and China ... [More]

Whitsunday's Mayor Tries to Save Bauxite Mine Project

by Cameron Chai Mayor Mike Brunker wants the Queensland government to drop royalties on bauxite to entice international investment. His main aim is to keep the refinery in Queensland to ensure the related jobs don’t su... [More]
Proposed Mining Tax Not Good for Australia: New Report

Proposed Mining Tax Not Good for Australia: New Report

In another setback to the mining tax proposed by the federal government a senate inquiry found that it would affect Australia’s competitiveness and should be cancelled. The Western Australia Liberal senator and committee’s chairman Mathias Cormann summarized the findings on the minerals resource rent tax (MRRT) in Perth. [More]