Tony Abbott the Federal Opposition leader said that he would not support a moratorium on coal seam gas exploration in New South Wales till he was persuaded that miners were playing fast and loose with the environment. This was in response to the indigenous group that is gearing up for a fight against coal seam gas in the state.
Teck Resources Limited has reached a tentative agreement with union negotiators to end a two month strike in the Elkview metallurgical coal mine. Located in western Canada the Teck Resources owned mine is the largest of the six coal mines owned by the company.
Coal in northeast British Columbia has attracted the attention of a consortium of Chinese investors. The Chinese group hopes to develop three underground coal mines in the area to help secure the key raw material it needs for its steel industry. The ambitious project would cost U.S.$1 billion and create about 6,000 jobs directly and indirectly associated with the mines.
The deadline for the possible takeover of Riversdale Mining by Rio Tinto is up and the fate of the $4 billion transaction is sealed as Rio fell short of the 50% votes that were needed to push the deal through.
The Queensland Resources Council wants the state to ease up and allow more mining exploration. The chief of the Queensland Resources Council Michael Roche said that the horrible environment for mining exploration in the state is getting even worse. The state’s policy settings are going from bad to worse as the Labor government tries to please the Greens by going back on its promises to the mining community.
President Obama seems to be sending out mixed signals as far as fuels and energy generation go. While the Obama administration has been saying that it is tough on dirty fuels the claim falls flat when you hear that Interior Secretary Ken Salazar yesterday announced an enormous expansion in coal-mining in the U.S. About 7,590 million tons of coal currently in federal land in Wyoming will soon be leased to mining companies.
Australian resources company BHP Billiton is going to make a capital investment of $9.5 billion to expand its Australian iron ore and coal mining operations. The largest miner in the world has now planned to expand its own mines after it failed to take over three acquisition targets in the last year.
Xstrata has been given federal approval for its Wandoan Coal Project which is likely to develop into the largest open cut coal mine in the southern hemisphere.
The BG Group has decided to halt the construction of the coal seam gas pipeline of its Australian arm QGC. The $15 billion worth Queensland Curtis Island coal seam gas to LNG project has run into a wall thanks to some of its environmental management plans having not been approved. QCG made the announcement about halting work on the pipeline last Thursday.
Australia’s Environmental Protection Agency (EPA) has refused permission for a coal mine in the Margaret River region of Western Australia on grounds that it would be environmentally unacceptable. EPA Chairman Paul Vogel said that the no was based on the proponent’s referral information and environmental advice presented to the EPA.
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