John Holland Group will be developing a port associated with Rio Tinto's Cape Lambert iron ore project.
Queensland Coal Industry Rail Group or QCIRG has been unable to meet its own or the government's requirements for the coalition of a group of mining companies to set up a state coal freight network. The coal companies led by BHP Billiton have failed to acquire the bid and did not elaborate on the reasons.
Wayne Swan the treasurer seems at odds with the tax summit being offered to key independent MPs in return for their support to form a Labor government. Mr. Swan said that the tax was not on the summit agenda and that he would like to get this into legislative shape as quickly they possibly can.
ArcelorMittal and Indiabulls will form a joint venture for coal and iron ore mining. Indiabulls Real Estate has power plants while ArcelorMittal is the world’s largest steelmaker. It currently produces 8% of global steel supply.
Johannesburg is under threat from a toxic tide of acid mine water which is steadily rising. The water which is right now about 600 meters below the city is rising at a rate of 0.4 to 0.9 meters per day. If left unchecked this toxic acid water can cause earth tremors, power blackouts and cancer among the residents of the city.
The proposed mining tax (MRRT) was criticized as being a mere election ploy by opposition finance spokesperson Andrew Robb.
The new deposit in Mato Grosso state of Brazil may be the largest discovered iron ore deposit in the world. It may potentially be greater than Vale SA’s Carajas mine. The state Secretary Pedro Nadaf said that the new deposit may contain 11.5 billion metric tons of ore with 41% iron content.
China Metallurgical Group Corp is planning to start construction on an iron ore mine in Western Australia by mid 2012 and start operations by 2015.
Origin Energy (ASX:ORG) wishes to build a multi-billion dollar LNG plant with partner ConocoPhillips. The liquefied natural gas plant is one of almost a dozen scheduled to start up in Australia by the year 2016.
Mining tax woes for the industry seem far from over. With no clear winner emerging after the elections there is grave uncertainty over how the tax will eventually end up being framed and passed. This is causing mining majors to tread with extreme caution.
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