Resources Minister Martin Ferguson said that the Australian federal government was not responsible for the latest mining tax row.
A lawsuit has been filed in the Utah Supreme Court by environmentalists to stop the development of a coal mine near the Bryce Canyon National Park.
The $1.4 billion Hunter Valley coal expansion planned by Xstrata has been approved by the company board of directors. The expansion of operations in that area will create about 800 new jobs subject to Xstrata getting all necessary approvals from the state and federal government.
Mines in Queensland, Australia are being affected by flooding caused by heavy rain over the east coast of Australia. With ten years of drought the mining companies had not planned for water management in case of floods. Now the coal mines in the region are flooded and looking more like dams.
Rio Tinto is all set to embark on a new Chinese joint venture and expand an existing one in place with Sinosteel. The Sinosteel deal involves extending the existing Channar iron ore joint venture in Australia. The expansion will help produce an extra 50 million tonnes of iron ore.
Rio Tinto is about to make a bid for Riversdale Mining at $15 per share. This would be a $3.5 billion takeover bid made by the British company. There is a likelihood of the move attracting a counter bid from the Brazilian mining giant Vale.
Leighton Holdings Ltd. has won a 20 year contract in India. Thiess, a subsidiary of Leighton Holdings, will develop a $5.5 billion coal mine contract in Pakri Barwadih, Jharkhand in east India.
A mine in Kentucky owned by Massey Energy has been scheduled for shut down after being subjected to tough federal regulators. The stringent enforcement of safety regulations at the mine has left the management with little choice but to close down operations.
Australian listed company Bathurst Resources (ASX:BTU) is looking forward to developing an open cut coal mine in the Buller region of the west coast of South Island in New Zealand. The company says that the mine would have the highest safety and environmental standards.
The Indian coal deficit will be all the more evident in the coming year. India is currently facing acute coal shortage and will be required to import fuel in even larger quantities in the future. The shortage in the next fiscal year will reach 104 million tonnes as per Sriprakash Jaiswal, the Indian Coal Minister.
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