Australian Prime Minister Julia Gilard was happy with the new mining lease agreement that was signed between Rio Tinto and the Indigenous people this week. The bauxite mine and alumina refinery have been in operation since 1960 but only now have the Aboriginal people been given their due for the use of their traditional lands.
Traditional land owners are dissatisfied with a mining lease agreement with Rio Tinto Alcan in the Northern Territory. Several Aboriginal clan groups have claimed that they had not been consulted about the agreement that was signed between the Yolgnu people and the subsidiary of Rio Tinto.
The new Treasury Secretary Martin Parkinson is optimistic about the mining boom lasting about another decade barring global catastrophe.
Market leaders in temperature controlled microscopy, Linkam Scientific Instruments report the use of their 1400°C high temperature stage to study silicate melt inclusions in the Fluids Research Group of the Geosciences Department at Virginia Tech.
The farmers in Kingaroy barely had time to celebrate the end of Cougar Energy’s underground coal gasification attempt when they found out that the Queensland government had given its approval for exploration permits to Volcanic Holdings to look for volcanic bauxite.
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.
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.
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.
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.