“These latest quarterly figures show Australia’s resources are the gifts that keep on giving,” Minister Pitt said. “Our resources exports continue to bring hundreds of billions of dollars into the country and keep thousands of Australians in high-value, high-skilled jobs – particularly in regional Australia. “Just as iron ore’s incredibly strong run cools, soaring demand for our coal and liquefied natural gas is fuelling a surge in export revenues.
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IS NUCLEAR THE ZERO HERO?
Unlike many other countries, Australia has enjoyed an abundance of coal and more recently gas to provide a considerable chunk of its energy needs. But in the global push to decarbonise and the widely accepted goal of net zero by 2050, the fossil fuels we have traditionally relied on have become part of the problem. While renewable energy such as solar, wind and hydro, supported by batteries, are seen as playing a greater role in Australia’s new energy mix, providing reliable baseload power without fossil fuels remains a conundrum. And that’s where advocates of nuclear power come in.
Read moreSantos battles with Forrest on hydrogen
Santos has fired back at Andrew Forrest, saying the cost of green hydrogen from the billionaire’s Port Kembla plant will be nearly three times higher than hydrogen sourced from the gas producer’s Moomba hub in South Australia’s Cooper Basin.
Read moreSolar a costly exercise: Gina
AUSTRALIA’S richest woman, Gina Rinehart, is warning that rushing to reduce greenhouse emissions without proper costings could imperil family farmers and cost taxpayers “billions in subsidies”. The mining and pastoral tycoon has outlined her particular concern that family farmers who have endured years of drought, bushfires and Covid-19 do not have spare cash, so cannot afford to invest to change to renewable energy. Mrs Rinehart said costings should be the first priority and urged the Federal Government to “stand firm” until these had been properly assessed and made public.
Read moreLatest resources figures show WA dominance
Premier Mark McGowan congratulated the industry on a successful battle with the COVID-19 pandemic. “Our efforts to crush the virus quickly and keep our economy and mining industry open has not only benefited Western Australians but the nation more broadly, with WA continuing to provide the largest per capita financial contribution to the Federation,” he said.
Read moreMohammed bin Rashid issues Law creating Dubai Integrated Economic Zones Authority
The establishment of the Dubai Integrated Economic Zones Authority is a vital move to enhance Dubai’s global competitiveness and raise its investment attractiveness. The private sector is a major partner in our development journey over the next 50 years and the government continues to explore innovative initiatives to support their growth and success. Our objective is to make Dubai the destination of choice for global investors and a major focal point for global commerce.
Read moreVale and Asian miner seek Brazil nod to fast-track mine project
Mining giant Vale SA and an Asian-owned metals producer are among the first to tap a Brazilian program that aims to cut red tape and speed up mining projects in the South American nation.
Read morePNG Government Grants Special Economic Zone status to Central Cement and Lime Project
Managing Director Paul Mulder said “I greatly appreciate the leadership of the PNG Prime Minister & Minister for
Bougainville Affairs & Defence, Hon. James Marape, in the establishment of this SEZ, as it sets the right conditions for
large scale investment to thrive and catalyse down-stream processing in the SEZ that will particularly benefit the
people and the manufacturing industry in PNG.”
How Special Economic Zones are Reshaping the World Economy
SEZs are business parks granted legal autonomy to improve their governance. Companies operating within SEZs enjoy unique tax breaks, streamlined government regulations, special VISA rights and different labor laws. This enables businesses to operate in emerging markets without the usual problems that businesses in the developed world face. SEZs have also rehabilitated traditionally bad investment destinations, creating bastions of economic growth in unlikely locations. The most well-known case studies of this come from China.
Read moreReform overhaul to put rocket under productivity
With the country already experiencing a peak in major projects, Infrastructure Australia chief of policy and research Peter Colacino said the industry needed to reform in order to meet the looming pipeline of projects. “The industry can’t deliver the scope of work unless it adopts the change,” he said. “We’ve pointed to things that are proven, have delivered productivity gains elsewhere, are well evidenced in terms of what we’re putting forward. These aren’t unproven solutions.”
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