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.
The decision to sell leases that would allow mining firms to explore for minerals on private land in north eastern Minnesota was delayed.
The Worldwide Fund for Nature (WWF) has said that toxic mining disasters and industrial accidents are waiting to happen in Eastern Europe. Especially as after a year since the toxic mud spill in Hungary the European Union has been unable to pass any related legislation.
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.
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.
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.
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