Tropical depression Alex is being viewed with some concern by both BP and the US Coast Guard as it moves into the southwestern gulf. Alex is likely to make BP’s clean up drive and oil collection efforts difficult in the Gulf of Mexico.
By Joel Scanlon
28 Jun 2010
If you thought that buying gold was the safest investment that you could make Macquarie Bank interest rate strategist Rory Robertson, would have you rethink that decision. He considered gold a bubble waiting to burst.
By Joel Scanlon
28 Jun 2010
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 mining industry does not like the ambiguity that hangs over the new proposed mining tax. The Resources Super Profits Tax which was introduced at 40% by the last Prime Minister Kevin Rudd led to a series of anti tax c...
By Joel Scanlon
28 Jun 2010
Russian energy company Gazprom has resumed normal gas supply to Belarus after it stated that the $200 million debt was almost paid off. The energy giant Gazprom had reduced the supply of gas by 60 percent in wake of the ...
By Joel Scanlon
27 Jun 2010
Wuhan Iron & Steel Corp, the Chinese government controlled steel giant has signed a Memorandum of Understanding (MoU) with Australian company Riversdale Mining Ltd.
By Joel Scanlon
27 Jun 2010
Fortescue's chief executive, Andrew Forrest has been demanding that the mining tax be taken off the table ever since it was announced. He has been one of the primary faces of the “axe the tax” campaign la...
BG Group Plc has received environmental approval for its proposed liquefied natural gas project in Queensland State on Friday. It is the second venture to secure permission. Four similar ventures are planned to convert c...
By Joel Scanlon
27 Jun 2010
Sundance is trying to get a second rescue team to try and salvage the bodies from the crash site in Africa. Sundance Resources Ltd lost its entire board of six members in the aircraft crash on Saturday on the western ridge of Congo's Avima Range, near the Gabonese border.
East Timor President Jose Ramos-Horta wants the Australian Government to convince the developers of the Greater Sunrise gas field to build a pipeline to East Timor.
According to Dr. Jose Ramos-Horta developing the Sun...
The Labor Party has a new leader and the mining industry is already gaining across the Australian stock market. With Prime Minister Kevin Rudd being ousted by Julia Gillard the proposed Resources Super Profits Tax on the...
Prime Minister Kevin Rudd may have quit making place for Julia Gillard to take over the Labour party leadership, but his proposed Resources Super Profits Tax has received an ally in the International Monetary Fund. The deputy head of the IMF's tax policy division, Philip Daniel said that the IMF staff welcomes the RSPT tax proposal in principle.
By Joel Scanlon
24 Jun 2010
Interior Secretary Ken Salazar said on Wednesday that he has plans to issue a new drilling freeze which might be refined to reflect the offshore conditions. He was speaking to a Senate subcommittee as he explained that the new order was still being developed.
By Joel Scanlon
24 Jun 2010
Lyntek Inc. has published the "Coles Hill Conceptual Study," an engineering and feasibility study that looks at a proposed uranium mine and mill in Pittsylvania County. The proposed mining operation in Southside Virginia is likely to bring 350 jobs and about $40 million to the local economy according to the study.
By Joel Scanlon
24 Jun 2010
With the Gulf of Mexico dominating U.S. news, now a federal court judge has overturned the ban on drilling imposed by President Obama after the oil spill. The explosion which triggered a massive oil spill in the month of April in the Gulf of Mexico caused Obama to put the six month moratorium in place.
By Joel Scanlon
23 Jun 2010