The Resources Super Profits Tax (RSPT) proposed by the federal government in Australia on the mining industry is likely to cost the Australian economy more than it benefits it. This has been the main argument of all the ...
By Joel Scanlon
23 Jun 2010
According to the Australian Bureau of Agricultural and Resource Economics (ABARE), next financial year is going to be boom time for the miners. ABARE expects the mining and energy exports to come to about $170 billion in...
Woodside Petroleum Ltd. sent a statement to the Australian Securities Exchange warning about delays and rising costs at its Pluto LNG project. The Oil and Gas producer is facing rising construction costs and delays due to the strike action taken by its employees.
Obama appoints a replacement for Elizabeth Birnbaum who has resigned under pressure as the head of the Interior Department’s Minerals Management Agency after just ten months in office. Her replacement is former Justice Department inspector general Michael Bromwich.
By Joel Scanlon
23 Jun 2010
Patriot Coal, based in St. Louis, plans to permanently close a valuable coal mine in West Virginia. The mine in question is Harris No.1 min near Wharton. The operations were suspended last week after a cave in damaged th...
By Joel Scanlon
22 Jun 2010
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.
Minotaur Exploration based in Adelaide has found a promising iron ore prospect west of Broken Hill in South Australia. Today Minotaur Resources reported a 40km long magnetite iron ore deposit which is about 124m thick.
The Australian Treasury Secretary Ken Henry is canvassing for support to the prospective resources super profits tax or RSPT. He made aired his frustrations over the heated debate surrounding the proposed 40% tax on mini...
By Joel Scanlon
21 Jun 2010
In a tragic accident for the Sundance Resources mining company the aircraft which crashed into dense forests in Africa had no survivors. The Perth based company lost its chairman, managing director and CEO, company secretary and three directors. There were a total of 11 people on board.
By Joel Scanlon
21 Jun 2010
Chinese concern over the Australian Government's proposed Resources Super Profit Tax (RSPT) is likely to be high on the communication agenda when Vice President Xi Jinping of China meets Australian Prime Minister Kevin Rudd today.
By Joel Scanlon
21 Jun 2010
Another study commissioned by the Mining industry on the proposed mining tax has found flaws in the Government's proposed mining tax model. The report was given by Ernst & Young says that the Resources Super Profit Tax or RSPT proposed by the federal government is based on a wrong theory.
By Joel Scanlon
21 Jun 2010
Australia’s third largest iron ore producer Fortescue Metals Group, is about to sign an engineering agreement with a Chinese company to help boost its iron ore production at its Chinchester Hub.
Queensland Premier Anna Bligh feels that North Stradbroke Island off Brisbane will do better as a tourism spot than as a mine. The Queensland Government will be halting the salt mining on the Island by 2027.
By Joel Scanlon
21 Jun 2010
Sundance Resources is a Perth based junior mining company facing a crisis. A company plane with a number of Sundance’s top executives went missing in West Africa yesterday. It is believed to have crashed.
Caterpillar Inc. the world's largest manufacturer of construction and mining equipment announced a $700 million investment plan over the next four years. The plan involves production of mining shovels and an expansion of its production of trucks at plants in Decatur, Illinois and Chennai, India.