The Queensland Resources Council wants the state to ease up and allow more mining exploration. The chief of the Queensland Resources Council Michael Roche said that the horrible environment for mining exploration in the state is getting even worse. The state’s policy settings are going from bad to worse as the Labor government tries to please the Greens by going back on its promises to the mining community.
Mining apprenticeships are being fast tracked in Queensland to try and meet shortfalls that the mining industry is currently facing. As per official estimates a shortfall of about 36,000 tradespersons will be found in the mining sector by 2015.
Employment Minister of Australia Chris Evans announced that mining giants would be able to import labour to work in their mines.
Australia is near the top of the global mining merger and acquisition deals that took place last year as per a PricewaterhouseCoopers report. It is second only to Canada in the number of transactions that it made in the mining industry as a number of Australian firms tried to benefit from the surging minerals market.
In the next financial year Australia will earn $251 billion from commodity exports as per the forecasts from the federal government. With the mining boom looking good for another decade and the prices for farm goods like wheat, cotton and sugar rising the export earnings for the country will most likely rise by 9% compared to the last financial year.
Glenn Stevens, the Reserve Bank governor, warned Australians that the mining boom would not last forever and they need to save for the time when commodity prices will fall.
First half year profits of BHP Billiton took a record leap of a 71 % to reach a profit of $10.6 billion of which $10 billion will be returned to shareholders. Reuter’s analysts had predicted a profit of $10.3 billion for the same period and they were also surpassed.
Australia will collect about $60 billion less in mining tax over the next ten years than previously predicted thanks to the changes made in the proposed mining tax last year prior to the elections. The treasury figures say that the original unhampered tax would have collected Australian $99 billion between the financial years of 2012/13 to 2020/21.
The Brazilian Mining Industry is going to see legal changes to the old 1968 mining code. The changes would be along the lines of the oil legislation which was passed over the last 15 years taking Brazil from being an importer of oil to a net exporter of petroleum products. The plan is being named the National Mining Plan 2030.
The coal mining industry in Australia is unlikely to return to full production any time soon with cyclones in North Queensland causing even more disruptions. The recent flooding in the state has resulted in the majority of coal mines operating at reduced capacity.
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