Despite the impending doom being spelled out by analysts against the mining tax and carbon tax, the coal industry in Australia has projects worth $15.9 billion under construction. There is also the hope that by the financial year 2015-16 exports of coal will be up by 60%.
Gina Rinehart said that the international competitiveness of Australia would be impaired by the proposed mining and carbon taxes. The iron ore heiress was speaking on the sidelines of the Boao Forum for Asia business conference in Perth.
The Director of the Australian Coal Association Ralph Hillman said that the carbon tax would affect the coal mining industry much worse than what the Gillard government had projected.
BMA has applied for a 100% ‘fly in fly out’ workforce with the Queensland state government for the proposed Caval Ridge coal mine located in the Central Highlands of the state. At present the state government has a 70% cap on the mobile work force that a mine can use.
The Department of Environmental Protection (DEP) in West Virginia has denied a petition which asked them to declare Blair Mountain unsuitable for mining. The June 2, 2011 petition was called frivolous by the DEP lawyer under state law.
SouthGobi Energy Resources Ltd. (SGQ.TO) has been issued a mining license for its wholly owned Mongolian operating subsidiary SouthGobi Sands by the Mineral Resource Authority of Mongolia. Shares in the company rose by 5 cents after the announcement to end up at $10.75.
The Chinese are worried about the mining reforms that Australia is planning. With the proposed mining tax coming up the Chinese diplomat Ouyang Cheng warned it would be difficult for Australia and China to maintain a healthy and steady economic co-operation unless reforms to foster Chinese investment were made.
Following in the footsteps of many resource-rich nations Mozambique is also planning to amend its old mining laws. Mining Minister Esperanca Bias confirmed this in a recent interview, saying the government was having discussions with all stakeholders.
In the Australian city of coal and steel, Wollongong, the community protests afresh for the new carbon pollution tax. Prime Minister Julia Gillard’s pollution levy is met with hostile opposition here. Located 50 miles south of Sydney in New South Wales the city of Wollongong has a population of 300,000 people.
In another setback to the mining tax proposed by the federal government a senate inquiry found that it would affect Australia’s competitiveness and should be cancelled. The Western Australia Liberal senator and committee’s chairman Mathias Cormann summarized the findings on the minerals resource rent tax (MRRT) in Perth.
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