Chinese concern over the Australian Government's proposed Resources Super Profit Tax (RSPT) is likely to be high on the communication agenda when Vice President Xi Jinping of China meets Australian Prime Minister Kevin Rudd today.
By Joel Scanlon
21 Jun 2010
Another study commissioned by the Mining industry on the proposed mining tax has found flaws in the Government's proposed mining tax model. The report was given by Ernst & Young says that the Resources Super Profit Tax or RSPT proposed by the federal government is based on a wrong theory.
By Joel Scanlon
21 Jun 2010
Australia’s third largest iron ore producer Fortescue Metals Group, is about to sign an engineering agreement with a Chinese company to help boost its iron ore production at its Chinchester Hub.
Queensland Premier Anna Bligh feels that North Stradbroke Island off Brisbane will do better as a tourism spot than as a mine. The Queensland Government will be halting the salt mining on the Island by 2027.
By Joel Scanlon
21 Jun 2010
Sundance Resources is a Perth based junior mining company facing a crisis. A company plane with a number of Sundance’s top executives went missing in West Africa yesterday. It is believed to have crashed.
Caterpillar Inc. the world's largest manufacturer of construction and mining equipment announced a $700 million investment plan over the next four years. The plan involves production of mining shovels and an expansion of its production of trucks at plants in Decatur, Illinois and Chennai, India.
Is the proposed RSPT of the Australian government to blame for the drastic reduction in mining deals this quarter? It would seem so. A total of 47 deals have been announced in the quarter ending June 2010 which are value...
By Joel Scanlon
18 Jun 2010
Asciano investors may go on the rampage with the announcement of no dividends being made with minimal fanfare.
By Joel Scanlon
18 Jun 2010
Tony Hayward, BP CEO was given a humiliating dressing down before an energy sub-committee investigating the Gulf of Mexico oil spill.
By Joel Scanlon
18 Jun 2010
Mining jobs have increased in the last six months, but the mining industry is not the largest job generator in the Australian economy. In contrast to 14,400 mining jobs generated the construction industry created 40,000 ...
By Joel Scanlon
18 Jun 2010
Xstrata has suspended its multi billion dollar project in the Surat Basin in central Queensland. The $186 million worth expenditure was to be used to develop the $6 billion Wandon thermal coal project located south west of Gladstone.
By Joel Scanlon
17 Jun 2010
New Zealand based Solid Energy Chairman, John Palmer feels that the state run mining company should be partially privatized to meet the $10 billion capital it needs to expand. The idea is similar to the partially listed ...
By Joel Scanlon
17 Jun 2010
Aquila Resources Ltd and Brazilian mining giant Vale's subsidiary Bowen Central Coal finding it difficult to reach common ground to work together over Eagle Downs.
Rio Tinto's Eagle, a nickel and copper mine in Michigan worth $469 million, has been approved. This is the second overseas investment by Rio Tinto after the Australian government announced the RSPT mining tax.
The six year contract won by Leighton Asia is estimated to be worth $1.1billion. It involves expanding the mining services in MSJ coal mine in Indonesia for PT Mahakam Sumber Jaya.
By Joel Scanlon
17 Jun 2010