Blackham Resources has reported positive results of lignite samples from the initial coal upgrading test work conducted at its Scaddan coal project, situated in Western Australia.
The Queensland State Government said that the new coal mine in Galilee Basin could generate close to 6,000 jobs during construction and 1,500 more during the actual life of the mine. The $8.3 billion worth coal project is being developed by Waratah Coal.
Sichuan Hongda Co. Ltd, has signed a deal worth $3 billion for a coal and iron ore mining in Tanzania. The Chinese company is one of many that are seeking a steady supply of raw materials from Africa to support its demand due to industrialization.
Australia’s export earnings from the resources and energy sector are likely to hit a record high of $215 billion as per official forecasts. The Bureau of Resources and Energy Economics forecast in its last quarterly report that a 21% increase was expected in the 2011-2012 export earnings.
Indian company GVK Power has bought a stake in Australian company Hancock Group for $1.26 billion. The Hancock Group is owned by Gina Rinehart and the Indian company is investing in it to secure energy supplies for its future power plants.
The environmental group ‘Switch Off Coal’ is staging a protest at the Bacchus March located west of Melbourne. The conservation group is unhappy about the brown coal testing that Mantle Mining is conducting in the area. Testing began about two weeks ago.
The New South Wales government announced that tough conditions have been placed on the renewal of two controversial licenses held by BHP Billiton and Shenhua Watermark in the Liverpool Plains region. The licenses expired February this year.
The coal mining company Banpu Pcl from Thailand is to bid for the Australian-based coal explorer Hunnu Coal. Hunnu Coal is focused on Mongolia and had called for a trading halt on its shares last Friday saying that a potentially significant corporate transaction was due on or before Tuesday.
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.
The managing director of Rio Tinto Australia, David Peever said that the federal government’s opinion that only ‘gassy’ coal mines needed carbon tax relief and non-gassy mines would be unaffected by the carbon tax was not viable.
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