The mining boom has brought prosperity to Australia but just to a select few parts. A fact shown by the annual State of the Regions report that claims that most of the country is missing out in the benefits of the profitable mining industry.
Cap-Ex Ventures has got and interpreted the primary data from the latest Airborne FALCON Gravity Gradiometer and High Sensitivity Magnetometer survey at the Redmond and Block 103 properties in the Labrador Trough, Quebec.
Iron Road Ltd, an independent, South Australian focused iron ore project developer, is ready to build a major magnetite iron ore project on the Eyre Peninsula in South Australia. The community around Warramboo has traditionally been a farming region but if the open cut mine is established it would convert to a mining zone.
Cabo Drilling has received a contract to drill 13,000 m at Ridgemont Iron Ore’s Redford iron ore property, which is situated in Vancouver Island, BC.
The Rio Tinto Group has approved the expansion of its iron ore operations in Australia. The company is to invest $676 million over the next six months to profit from ever growing global thirst for iron ore. The funds have been sanctioned to enhance work on port and rail engineering projects in the Pilbara region.
Australian Treasurer Wayne Swan said on Tuesday that the investment needs and demand for capital for the country are set to grow proportionately with the resources boom. For this reason Australia will have huge opportunities for foreign investment. The Treasurer was speaking to the International CEO Forum in Canberra.
The Swiss multinational mining and commodities trading company Glencore is looking for new acquisitions after its successful London float last month. If Glencore does manage to acquire the miner it is targeting the company would become one of the world’s largest mining operators, rivalling mining giants BHP Billiton and Rio Tinto in market capitalisation.
A draft of the proposed Minerals Resource Rent Tax (MRRT) has been released by the Treasury department of the Australian government. The new tax is a compromise which resulted after Kevin Rudd’s tax was rejected outright by the mining industry. The original resources supertax is what caused the ouster of the former Prime Minister after vehement opposition was seen to the tax proposal.
Newcrest Mining is using ‘Fly in, Fly out’ labor for its Telfer mine in Western Australia. The workers are being sourced from the east coast instead of from Perth. The move signals a new beginning to the mining industry’s approach to employing workers.
The Construction Forestry Mining and Energy Union (CFMEU) has applauded the breakthrough deal with mining giant Rio Tinto in Western Australia. The collective agreement for iron ore rail workers in the Pilbara region is the first such union agreement with the mining company for 18 years. With this the union gains its first foothold in the region after nearly two decades.
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