North Australia Digest – 27/9/12

by 27 September 2012

Here is a digest of today’s major stories that impact North Australia:

The Australian

In response to falling profitability in coking coal, Anglo American plans to reduce its output in coming months. Chief executive of Anglo’s coking coal business, Seamus French, said “it’s times like these that really are the right (opportunity) to re-evaluate things.”

The Age

The price of iron ore could remain at current low levels for up to six months, [...]

North Australia Digest – 26/9/12

by 26 September 2012

Here is a digest of today’s major stories that impact North Australia:

The Australian

Queensland mining magnate Clive Palmer has lodged legal proceedings after rival miner GVK was awarded the rights to build a railway line between the Galilee Basin and Abbot Point. Mr Palmer claims he has not be provided with adequate information as to why his company, Waratah Coal, was not awarded the contract.

Live sheep export to the Middle East ]

Abbott will put UAV drones in Northern Australia

by 25 September 2012

Earlier today, Opposition Leader Tony Abbott outlined a promising plan for a stronger military presence in northern Australia in a speech to the RSL national conference in Sydney. Mr Abbott stated that a coalition government would immediately begin the process of “acquiring state-of-the-art unmanned aircraft” as part of a move to increase spending on Australia’s Defence Force.

The Coalition plans to deploy what are commonly known as drones in Northern Australia.

It is refreshing [...]

North Australia Digest – 25/9/12

by 25 September 2012

Financial Review

China’s giant sovereign wealth fund, China  Investment Corp, has a $US 190 billion war chest, with a view to secure the country’s long-term food supplies.  Currently a litre of milk in Beijing sells for about $7 a litre compared with $1 here.

Any Chinese attempt to buy a large stake in Australia’s dairy industry would need approval from the Foreign Investment Review Board and would have to focus on sustaining jobs, [...]

North Australia Digest – 24/9/12

by 24 September 2012

Australian Financial Review

A Chinese sovereign wealth fund is looking to make its first significant investment in the Australian dairy industry, as China tries to secure food supplies for its growing middle class.

The head of NAB’s agribusiness division says, while the possible end of the mining boom is grabbing headlines, demand for farm commodities could underpin the economy for years to come.

This opinion piece surveys the possible consequences of a [...]

North Australia Digest – 21/9/12

by 21 September 2012

Australian Financial Review

Jobs will bear the brunt of a faster than expected end to the commodity boom according to economists and business leaders. The calls come in reaction to Ross Garnaut’s prediction that Australian’s would struggle to cope with falling living standards. Business Council of Australia chief executive Jennifer Westacott said the nation had abandoned its ambitions to improve productivity and Australia must do more on tax reform, reducing regulation, improving skills and [...]

North Australia Digest – 20/09/12

by 20 September 2012

Here is a digest of today’s major stories that impact North Australia:

The Financial Review 

Ross Garnaut has warned Australians to prepare for a living standards ‘bust’ as the resources boom gives way to falling export prices and a slump in mining development.

An influential Chinese insider says Australia must prepare for falling demand for coal and iron ore as the world’s second-biggest economy undergoes structural changes.

BHP Billiton, the world’s largest mining [...]

North Australia Digest – 19/09/12

by 19 September 2012

Here is a digest of today’s major stories that impact North Australia:

The Age

New Coal projects will be shelved across Queensland as a result of increased royalties on coal announced in last week’s state budget. Robert Neale, managing director of New Hope Corporation, said “Where it does have an impact is the cumulative burden of that plus the MRRT and the carbon tax on new projects. That burden is such that I would [...]

North Australia Digest – 18/9/12

by 18 September 2012

The Australian

Here is a digest of today’s major stories that impact North Australia:

A slowdown in the mining sector and the shelving of major projects has encouraged an escalation of the ACTU’s war on the recruitment of foreign workers. The ACTU’s secretary David Oliver has demanded an end to enterprise migration agreements:

“With some of the largest resources projects being put on hold, there is no case of the mining industry to be [...]

North Australia Digest – 17/8/12

by 17 September 2012

Here is a digest of today’s major stories that impact North Australia:

The Australian

Modelling released by the Minerals Council of Australia has warned that labour costs in the mining industry are among the highest in the world. The modelling warns that high costs threaten to stall major resources projects and consequently shrink the economy by 5 per cent unless Australia commits to policies to regain its competitiveness including loosening restrictive rules on Enterprise [...]