In a historic first, the government of British Columbia, Canada has agreed to share taxes collected from a new mine with the aboriginal people who are the traditional land owners of the region where the mine will be located.
Origin Energy (ASX:ORG) wishes to build a multi-billion dollar LNG plant with partner ConocoPhillips. The liquefied natural gas plant is one of almost a dozen scheduled to start up in Australia by the year 2016.
Speculation over who is likely to make a bid for PotashCorp is growing with bids from Rio Tinto and a Chinese partner being considered as likely candidates.
The ban on open pit mining in the Philippine province of South Cotabato will be pushed through unless a court issues a restraining order or if local lawmakers craft a new directive. Gov. Arthur Pingoy Jr. said.
Brazil's Vale, the second-largest mining company in the world, had been seen as a possible saviour for PotashCorp but on Monday Vale denied that it was in talks to acquire the Canadian fertilizer company.
Lihir Gold Limited (ASX: LGL), a gold company with operations in Papua New Guinea, Australia and West Africa, has accepted the takeover bid offered by Newcrest Mining as shareholders have voted unanimously in favour of the bid.
Mining tax woes for the industry seem far from over. With no clear winner emerging after the elections there is grave uncertainty over how the tax will eventually end up being framed and passed. This is causing mining majors to tread with extreme caution.
Boart Longyear Ltd (ASX:BLY), the world's largest drilling services provider has announced that its net profit for the period ending June 30 was $US32.7 million. This comes after a $US5.4 million loss in the corresponding period last year.
The proposed mining law review in South Africa may help calm down the fears of investors and the worries of mining companies. Rumours of mining concession rights battles and nationalization of mines have been doing the rounds all of this year.
Senator Bob Brown of the Greens may be in the mood to negotiate but Prime Minister Julia Gillard is not. She was speaking to the National Press Club in Canberra regarding the fate of the Minerals Resource Rent Tax when she said that a re-elected Labor government would have a mandate for the tax.
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