Native title groups hosting Australia’s iron ore industry are holding more than $1 billion of net assets in trusts, but after 30 years of the native title regime, there is little to show for the vast majority of Indigenous Australians.
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The nation’s largest group for miners will spend millions on reminding Australians of its contribution to the national economy, with a new advertising blitz to start from Monday.
Freshly armed with a new analysis of mining’s value to government revenue, the Minerals Council of Australia said $74 billion was contributed to all levels of government in the 2022-23 financial year.
Miners have poured a record $74bn into the coffers of federal, state and territory governments, with the Albanese government pocketing $42.5bn in company tax revenue, and Queensland and NSW cashing in on booming coal royalties.
Australian billionaire Gina Rinehart has offered some advice for Prime Minister Anthony Albanese as he struggles to secure a budget bounce.
Despite us constantly being told that solar and wind are now the cheapest forms of electricity, governments around the world needed to spend $US18 trillion on the green transition last year.
A major gas expansion seen as vital for Australia’s southern states to avoid shortages in the next two years has been put on hold due to a tough regulatory clampdown, with the fresh supply shock landing just days after the Albanese government warned of shortfall risks this decade.
The Global Alliance of Special Economic Zones (GASEZ) has selected Klaipeda Free Economic Zone (FEZ) in coastal Lithuania among the top 50 global Model Zone Partners that best reflect global sustainable development goals.
Iron ore futures prices extended their rise to hit the highest level in multiple weeks on Monday, bolstered by an obvious reduction in shipments and hopes that top consumer China will roll out more stimulus to prop up its economy.
“The REAL horror of the mining/coal/oil/gas sector is the government support and rebates the industries get. Barely any of the profits from Australia’s resources even touch the Australian economy. Instead the money is quickly moved offshore to multinational conglomerates.” Let’s have a look at the facts:
He says he only found out about the “nature-positive” plan a few weeks ago, even though he is chairman of four listed companies and has investments in all pockets of the country. Gina Rinehart’s Hancock is the other company brave enough to publicly raise the alarm bells – most businesses seem to be hiding behind the Business Council of Australia, lobbying on their behalf, or worried about political backlash.
The mining sector is up in arms about Environment Minister Tanya Plibersek’s “nature positive plan” with claims it will derail mining projects and halt the government’s own clean energy revolution. Ms Plibersek is seeking to push changes in Australia’s environment protection laws, as part of the government’s nature positive plan.