Interior Secretary Ken Salazar said on Wednesday that he has plans to issue a new drilling freeze which might be refined to reflect the offshore conditions. He was speaking to a Senate subcommittee as he explained that the new order was still being developed.
By Joel Scanlon
24 Jun 2010
Lyntek Inc. has published the "Coles Hill Conceptual Study," an engineering and feasibility study that looks at a proposed uranium mine and mill in Pittsylvania County. The proposed mining operation in Southside Virginia is likely to bring 350 jobs and about $40 million to the local economy according to the study.
By Joel Scanlon
24 Jun 2010
With the Gulf of Mexico dominating U.S. news, now a federal court judge has overturned the ban on drilling imposed by President Obama after the oil spill. The explosion which triggered a massive oil spill in the month of April in the Gulf of Mexico caused Obama to put the six month moratorium in place.
By Joel Scanlon
23 Jun 2010
Western Australia Premier Colin Barnett has come under criticism from the opposition for accepting the one off payment of $350 million from iron ore companies BHP Billiton and Rio Tinto. The state government had announce...
The Resources Super Profits Tax (RSPT) proposed by the federal government in Australia on the mining industry is likely to cost the Australian economy more than it benefits it. This has been the main argument of all the ...
By Joel Scanlon
23 Jun 2010
According to the Australian Bureau of Agricultural and Resource Economics (ABARE), next financial year is going to be boom time for the miners. ABARE expects the mining and energy exports to come to about $170 billion in...
Woodside Petroleum Ltd. sent a statement to the Australian Securities Exchange warning about delays and rising costs at its Pluto LNG project. The Oil and Gas producer is facing rising construction costs and delays due to the strike action taken by its employees.
Obama appoints a replacement for Elizabeth Birnbaum who has resigned under pressure as the head of the Interior Department’s Minerals Management Agency after just ten months in office. Her replacement is former Justice Department inspector general Michael Bromwich.
By Joel Scanlon
23 Jun 2010
Patriot Coal, based in St. Louis, plans to permanently close a valuable coal mine in West Virginia. The mine in question is Harris No.1 min near Wharton. The operations were suspended last week after a cave in damaged th...
By Joel Scanlon
22 Jun 2010
Australian Prime Minster Kevin Rudd is seeing the new agreements signed with China in Canberra yesterday as a way at getting back at those criticizing the RSPT. Of the 10 agreements signed 7 related to the resources and energy sector.
Minotaur Exploration based in Adelaide has found a promising iron ore prospect west of Broken Hill in South Australia. Today Minotaur Resources reported a 40km long magnetite iron ore deposit which is about 124m thick.
By Joel Scanlon
21 Jun 2010
The Australian Treasury Secretary Ken Henry is canvassing for support to the prospective resources super profits tax or RSPT. He made aired his frustrations over the heated debate surrounding the proposed 40% tax on mini...
By Joel Scanlon
21 Jun 2010
In a tragic accident for the Sundance Resources mining company the aircraft which crashed into dense forests in Africa had no survivors. The Perth based company lost its chairman, managing director and CEO, company secretary and three directors. There were a total of 11 people on board.
By Joel Scanlon
21 Jun 2010
Chinese concern over the Australian Government's proposed Resources Super Profit Tax (RSPT) is likely to be high on the communication agenda when Vice President Xi Jinping of China meets Australian Prime Minister Kevin Rudd today.
By Joel Scanlon
21 Jun 2010
Another study commissioned by the Mining industry on the proposed mining tax has found flaws in the Government's proposed mining tax model. The report was given by Ernst & Young says that the Resources Super Profit Tax or RSPT proposed by the federal government is based on a wrong theory.
By Joel Scanlon
21 Jun 2010