As per the Reserve Bank of Australia’s Deputy Governor, the mining boom has benefited more than just Western Australia and Queensland.
More than a thousand people showed up at the state Capitol to protest against mountain top removal mining in Kentucky. The Appalachian residents and citizen activists were joined by environmentalists at the “I love Mountains” annual rally.
The Wilderness Society has asked Federal Environment Minister Tony Burke to use emergency powers to protect four areas in Cape York, Australia that are currently threatened by mining proposals. The appeal was made in a letter by Gavan McFadzean last week.
Miners in Queensland claim that they still drive the economy of the state as one in eight jobs in the state is related to the mining industry.
Albania is looking to give its mining industry a major boost as it plans on issuing 151 mining licenses this year. The Ministry of Economy, Trade and Mining said on Thursday that they planned to allocate 20 of these mining licenses in weekly competitions.
A new species of tiny freshwater crab may cause trouble at a Rio Tinto site. The Wilderness Society is asking the federal Environment Minister to halt a $900 million mining exploration program being undertaken by Rio Tinto in Cape York after the discovery of the crab.
Guinea signed a new 106 page updated mining code into law last week. Mines Minister Mohamed Lamine Fofana said that it would root out unconscionable provisions and tone down Chinese investment in the nation.
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.
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 Economics said in the report that the mining industry has paid an average tax of 41.5% from the financial years between 2007-8 to 2009-10.
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 participation level of 15 percent for the government and the right to buy another 20 percent.