North Australia Digest – 22/10/12

by 22 October 2012

The Australian

Deloitte Access Economics director Chris Richardson says that it may have been wise for the government to delay the release of MYEFO in order to assess the first mining tax instalments. Richardson says the slowdown in demand from China and low commodity prices will affect the mining tax, but the treasury is still applying its latest estimates of where commodity prices are going to be to pre-budget estimates of how much the [...]

North Australia Digest – 19/10/12

by 19 October 2012

The Australian

The Australian also report on the dangers of China’s slowing economy in dragging down commodity prices, particularly iron ore.

Mount Gibson to slash 270 jobs in response to volatile market conditions in the mining sector

The Financial Review

ANZ banking group has said that Australia’s agricultural industry requires massive injections of capital in order to take advantage of Asia’s increased demand for cereal and meat exports as the region becomes [...]

North Australia Digest – 18/10/12

by 18 October 2012

The Australian

As BHP and Rio Tinto are set to be the only two resource companies making payments to the new mining tax on Monday, BHP executive Marius Kloppers says future mining growth must be driven by improved productivity as well as decreased tax and regulatory burdens.

In a separate article, Marius Kloppers weighs in on the future of coking coal, saying Queensland’s vast resource base will not be enough to secure its [...]

North Australia Digest – 17/10/12

by 17 October 2012

The Australian

Energy Australia says the carbon tax is driving up operating costs while wholesale electricity prices are weak and demand for electricity is plunging. This follows Queensland’s Stanwell Corporations decision to withdraw two coal production units at a cost of 64 jobs only two weeks ago.

Following a meeting between several senior Australian and Indian business leaders, Lindsay Fox says the government’s decision to begin negotiations on uranium export to India could improve [...]

North Australia Project – 16/10/12

by 16 October 2012

The Australian

Julia Gillard’s arrival into New Delhi for meetings with the Indian Prime Minister could increase the hopes of  Australia selling uranium to India, thereby boosting resources and services exports to one of the world’s fast-growing economies.

Tony Abbott’s private meeting with Indonesian President reflects Indonesia’s view that Tony Abbott is likely to become Australia’s next Prime Minister. A range of issues important to the ongoing relationship between the two nations were [...]

North Australia Digest – 15/10/12

by 15 October 2012

Australian Financial Review

The federal government has placed boosting the quality of the education and training system at the top of the “Asian Century” white paper, due to be released at the end of the month. Business demand for labour market reform is ranked further down the list of policy priorities aimed at boosting Australia’s international competitiveness.

Macmahon Holdings chief executive Ross Carroll anticipates an increase in the stability of gold compared to [...]

North Australia Digest – 12/10/12

by 12 October 2012

We’d love to know what you think about today’s major stories that impact North Australia:

The Australian

Treasurer Wayne Swan says Australia can’t avoid the slowdown in the global economy but the national economic outlook remains strong.

Shares in mineral sands producer Iluka have been hit hard after price-cutting by arch competitor Rio Tinto and Iluka’s own strategy of maintaining supply “discipline” in an effort to bolster prices saw its sales revenue slashed [...]

North Australia Digest – 11/10/12

by 11 October 2012

We’d love to know what you think about today’s major stories that impact North Australia:

The Australian

Julia Gillard is set to take part in top-levels talks in New Delhi next week that could pave the way for negotiations on a treaty to open up uranium sales to India.

The chairman of the Foreign Investment Review Board says the body is trying to “dial down the tension” as proposed sales of Australian assets [...]

North Australia Digest – 10/10/12

by 10 October 2012

We’d love to know what you think about today’s major stories that impact North Australia:

The Australian

Rio Tinto chief Tom Albanese says the global mining giant has cut its forecasts for Chinese growth this year as expected stimulus packages take longer to materialise.

Pessimism within the civil and mining construction sector has returned to levels not seen since the global financial crisis as a new survey reveals that a slowing mining boom [...]

North Australia Digest – 9/10/12

by 9 October 2012

We’d love to know what you think about today’s major stories that impact North Australia:

The Australian

The ACTU has demanded Treasury advance plans for an economy-wide super profits tax, drawing widespread opposition from the mining and business sectors.

The coal-seam gas lobby warns that ‘Australia is in danger of losing its competitive edge internationally’ and that governments should ‘stop changing the rules on the nascent industry’. David Byers, Chief Executive of the [...]