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.
Pancontinental Uranium (Pancon) and Crossland Uranium Mines (Crossland) have begun a drill campaign, including 100 RAB holes, at the Buchanan Window prospect that is located in the Chilling project, Australia.
Researchers have come up with a new way to remove uranium from contaminated groundwater which should come as a major boost to the mining industry. Much of the opposition to uranium mining is based on the environmental damage done to ground water in the region.
German utility company RWE AG is hoping to off-load its share in the uranium enrichment company Urenco. It owns the company jointly with E.ON AG and the UK and Dutch governments. The UK and Dutch governments both own one third of the company Urenco and RWE and E.ON own the remaining.
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.
Uranium North Resource has completed the 2011 drilling program at its Amer Lake uranium deposit located in Nunavut.
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.
Nicole Roocke, director of Western Australia's Chamber of Minerals and Energy, is amongst the many people who are apprehensive that a heritage listing for the Kimberley region by the government will lead to restrictions on the region’s mining and exploration development.
Australian mining companies are increasing their investment in African mines. The Foreign Affairs Minister Kevin Rudd said in a pre-recorded message to more than a thousand delegates at a mining conference in Perth that Australia was committed to sharing its mining experience.
Uranium explorer Australian-American Mining is facing an aggressive campaign run by Canadian firm Crosshair Exploration & Mining. The Canadian company has been trying to swap Australian-American Mining‘s North American uranium leases for a pile of Crosshair Exploration & Mining’s stock.
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