North Australia Weekly Digest – 03/05/2013

by 3 May 2013

The Australian

Origin Energy chief executive Grant King has called for a review of the carbon tax and Australia’s renewable energy target, saying they continue to put the country at a competitive disadvantage. “Australia is increasingly standing alone in respect to the level of its carbon pricing, its renewable energy targets. It’s now way out – nowhere near – ahead of the countries with which it competes economically,” King said.

Macquarie Research has ]

North Australia Weekly Digest – 29/04/2013

by 29 April 2013

The Australian

The delay and cancellation of major mining projects has led to a long-term decline in engineering projects in Australia. A BIS Shrapnel report to be released today into the future of engineering construction in Australia has warned that the boom in large-scale civil projects feeding off mining is over. “Over the past decade we have witnessed one of the biggest booms in investment in civil infrastructure this country has ever seen. Total [...]

North Australia Weekly Digest – 23/04/2013

by 22 April 2013

Here is a digest of the major stories impacting Northern Australia over the last week:

The Australian

Opposition resources spokesman Ian Macfarlane has criticised high labour costs and the soaring Australian dollar, saying they contributed to Woodside Petroleum’s decision to shelve its Browse LNG project. “When a cook on an oil rig in Western Australia gets upwards of $290,000 a year, I think the inevitable was going to happen with James Price Point,” he said. [...]

North Australia Weekly Digest – 02/04/2013

by 2 April 2013

The Australian

The resources industry has warned that the “uninformed rhetoric” surrounding coal and liquefied natural gas developments near the Great Barrier Reef could ultimately damage the national economy while providing little in the way of additional environmental benefit. Ports Australia chief executive David Anderson said the federal government-commissioned review into the impact of resources projects on the reef was not backed up by good scientific evidence or an objective analysis, stating that the [...]

North Australia Weekly Digest – 18/03/2013

by 18 March 2013

The Australian

Japan’s Ministry of Economy, Trade and Industry announced this week that it plans to use ground-breaking technology to potentially unlock vast new gas sources after successfully extracting gas from a methane hydrates deposit. The breakthrough could help Japan reduce its reliance on imports of LNG, and hence threaten the viability of projects in Australia’s $175 billion LNG development pipeline given Japan currently buys 70 per cent of Australia’s entire LNG exports – [...]

North Australia Weekly Digest – 25/02/2013

by 25 February 2013

The Australian

New research conducted by the Reserve Bank of Australia has found that resources exports have created about 500,000 jobs across every major industry during the past 7 years. The research also shows that more than 1.1 million workers now depend on the wider resources economy. This is due to massive job creation in sectors such as construction and manufacturing. The report explains that 3.25 per cent of the nation’s workers are [...]

North Australia Weekly Digest – 08/02/2013

by 8 February 2013

The Australian

The Coalition’s  Draft Discussion paper on Northern Development generated much debate in the media this week. The  plan has been backed by residents in the North, with Mt Isa mayor and former Labor minister Tony McGrady also supportive of the initiative. Land-use restrictions could be eased if aspects of the draft are picked up, permitting agricultural development and the expansion of water storage across the North.

A KPMG study [...]

North Australia Weekly Digest – 01/02/2013

by 1 February 2013

The Australian

There has been a burst of new resources projects planned according to the latest Deloitte Access Economics investment survey released this week. The increase could extend the mining boom for years beyond the expected peak in construction work expected in the next 12 months. The report shows last quarter has been the best for new venture announcements since the September quarter of 2011. There are resource projects worth $226bn in the planning [...]

North Australia Digest – 18/01/2013

by 18 January 2013

The Australian

The future of the world’s third largest miner was being questioned by global investors yesterday as Rio Tinto announced a $US14 billion write-down of its aluminium and coal assets. As a result of the announcement, the board felt chief executive Tom Albanese could no longer keep his position. Sam Walshe, was announced as the new chief executive after driving the spectacular growth of Rio’s Pilbara iron ore operations since 2004.

Business [...]

North Australia Digest – 17/01/2013

by 17 January 2013

The Australian

A Gillard government plan aimed at saving struggling local industries could see major resources and infrastructure companies forced to prove they spend heavily with local manufacturers. Union leaders have led the call to mandate local content.  However, the resources sector has hit back at the union campaign at a time of growing industry warnings over poor competitiveness, including Chevron’s announcement of a $9 billion blowout at its Gorgon project because of the [...]