Fortescue Metals Group Ltd chief Andrew Forrest is now feeling confident about reaching a deal over the Resources Super Profits Tax (RSPT) with the Australian Government.
Rio Tinto seems to be facing problems with alliances and proposed alliances everywhere. A proposed iron ore venture with BHP Billiton Ltd may be voted down by the Rio Tinto Group shareholders as they do not agree to the current terms of payment.
WorleyParsons an Australian engineering company and part of a consortium with the Canadian engineering and construction group SNC-Lavalin issued a statement on Monday saying that it had been awarded a contract to provide Vale’s S11D processing facility with engineering services.
The ousting of Kevin Rudd leads to a surge in mining stocks, driven by a potential shift in the Resources Super Profits Tax under Julia Gillard's leadership.
QRC's survey indicates the Super Profits Tax may threaten mining operations, risking 10,000 construction jobs and hindering economic development in Queensland.
The mining industry is poised for a $170 billion boom in 2010-11, as iron ore and coal prices soar, benefiting major players like Rio Tinto and BHP.
Australian Prime Minster Kevin Rudd is seeing the new agreements signed with China in Canberra yesterday as a way at getting back at those criticizing the RSPT. Of the 10 agreements signed 7 related to the resources and energy sector.
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