Archived News for Industry Professionals
The Federal Government has released draft legislation for the introduction of the Minerals Resource Rent Tax (MRRT) for public comment.
Although the draft is not exhaustive it is intended to provide stakeholders with an early overview of the legislation and will use the public input for the preparation of a second and final exposure draft later in the year.
The Government is encouraging stakeholders to make submissions on the preliminary draft after a round of 'constructive consultation' with the mining industry and tax professionals.
Iron ore mine extension could generate $56 billion: report
A CSIRO research report has found that extending the life of existing iron ore mines in Australia and optimising marginal deposits would contribute an additional $56 billion to the national budget.
QRC demands more on flooded coal mine repair
The Queensland Resources Council (QRC) has demanded that the Queensland State Government do more to remove flood waters from the state's coal mine, saying that the reconstruction efforts rest on the maintaining of current royalty pricing in the state.
Offshore LNG projects vie for world first status
Royal Dutch Shell’s recently announced bid to be the first to build a floating liquefied natural gas operation may be thwarted by rival projects in Malaysia and Papua New Guinea, according to a report in the Australian Financial Review.
Carbon price to hit coal employment: report
A report released by the Australian Coal Association on the impact of the proposed carbon price on the black coal mining sector in Queensland and New South Wales has warned that it would cost around 4,700 mining jobs in the two states, and up to 14,100 jobs in the wider Australian economy.
WA carbon capture and storage assessment funded
The Collie South West Hub capture and storage (CCS) trial project in Western Australia is to receive up to $104 million in matching Federal and State funding for the completion of a detailed storage viability study.
Gold remains strongest commodity
49 percent of all applications for the Western Australian Co-funded Exploration Drilling Program’s are for gold, making it the most sort after commodity according to the State’s Mines and Petroleum Minister Norman Moore
Penrice Soda Holdings and GE strike deal over water technology
Penrice Soda Holdings Ltd and General Electrics have struck a deal to provide the coal seam gas (CSG) industry with a new process to remove brine from wastewater.
Australia and Germany sign energy and resources R&D pact
Australia and Germany have signed a Joint Declaration on Energy and Resources Cooperation which aims to increase cooperation and research and development collaboration between the two countries in the resource and energy sectors.
Heavy engineering demand drives mining labour market
Recruitment consulting firm Hays has published its annual salary guide, finding that demand for mining engineers has reached critical levels throughout the country as Australia’s booming resources and mining sector 'spearheads our economic recovery.’
IEA predicts golden future for natural gas
The International Energy Agency has released a special report on the future of natural gas as part of the global energy mix, outlining what it describes as the ‘Golden Age of Gas Scenario’, or the GAS Scenario.
PWC says game has changed in mining
PriceWaterhouseCoopers has published its Mine 2011 report, finding a “[global mining] industry that is enjoying spectacular growth, but is also facing new and complex challenges”.
O'Farrell hints at royalties move
New South Wales Premier Barry O’Farrell has hinted that he may consider a royalties hike, similar to that of Western Australia.
Carbon price job losses "trivial"
A study conducted by the Australian Bureau of Statistics and the Household and Income Labour Dynamics of Australia (HILDA) group has found that job losses caused by the introduction of an emissions trading scheme (ETS) would cause minimal deviation from the mean over the next ten years.
Rio strikes deal with traditional owners
Rio Tinto and the traditional owners of the Pilbara region in Western Australia have struck a deal that will see the mining giant invest $2 billion in the local community over 40 years while the company has access to massive iron ore deposits.
Resourcehouse pulls out of Hong Kong float again
Clive Palmer’s development giant Resourcehouse has pulled out of the company’s planned Hong Kong float for a fourth time, citing poor market conditions as investors stay wary of company’s international prospects.
Construction of Gladstone LNG project starts
Prime Minister Julia Gillard and Queensland Premier Anna Bligh have announced the commencement of the construction of the $16 billion Gladstone liquefied natural gas project.
Queensland to prevent mining in strategic cropping areas
Key food-growing areas in Queensland will be protected immediately from mining and other development under an Australian-first policy.
Brierty executes $185 million contract with Karara Mining
Brierty (ASX: BYL) has executed a four-year $185 million contract with Karara Mining for the hematite mining and associated services at the Karara Iron Ore Project in Western Australia.
Karara Mining is a joint venture between Gindalbie Metals (ASX: GBG) and Chinese steel producer AnSteel. Brierty is no longer in a trading halt on the release of today's announcement.
In February, Brierty had been named preferred contractor on Karara, and with contract terms now settled, the company has commenced delivery of mining services including drill and blast; load and haul; crushing and screening; road haulage and train loading.
Brierty is benefitting from an ongoing mining boom in Western Australia where infrastructure and land development investment has increased, particularly with Chinese interests in iron ore.
Peter McBain, chief executive officer of Brierty, said “the contract is a cornerstone mining project and provides Brierty with the ability to leverage additional opportunities from the development of the burgeoning Midwest region of Western Australia.”
Karara selected Brierty as contractor based on the strength of its team, service capability and professional approach. The project hosts a JORC Reserve of 977.5 million tonnes at 36.5% iron with an estimated concentrate of 1.027 billion tonnes at 68.6% iron. The Karara Project produces eight million tonnes per annum of high grade magnetite concentrate and has a 60 – year mine life. The joint venture also produces four million tonnes per annum of iron pellets at a new plant in China.
The project has the capacity to expand production to more than 30 million tonnes per annum for more than 30 years.
The company expects Direct Shipping Ore hematite deposits at the project to produce an initial level of two million tonnes per annum in 2012.
China's steel production boom to drive ore demand
China’s steel production is set to expand by up to 25 per cent over the next five years, allaying fears of a drop in demand for iron ore despite a 0.76% drop in China’s steel industry profits, according to a report in The Australian.
CSIRO wins major award for mining tool
A team of CSIRO Future Manufacturing Flagship scientists has won a major mining industry award for the invention of the highly sensitive magnetic field sensor, the technology that powers the LANDTEM mining exploration tool.