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 discussed, including agricultural exports.
Analysts say the recent rebound in iron ore prices, up 32 per cent from a three year low of US$86.70 a tonne, will fall again as the burst of demand from China following the country’s Golden Week holiday is not sustainable. No link.
Managing director of DP Word Australia says that volumes in Australia’s imports and exports are not likely to see any growth over the next year, with volumes currently still lower than the previous year.
The Financial Review
The Financial Review also reports on Julia Gillard’s visit to New Dehli, with Australian India Institute director Amitabh Mattoo saying the decision to allow uranium exports to India lays the groundwork for more co-operation in other areas between the two countries.
The Australian Greens called on Julia Gillard to ditch plans to sell uranium to India because of concerns about nuclear plant safety, effectively calling for the reinstatement Australia’s ban on uranium exports to India, which was lifted in December. No link.
Major energy companies, including Shell and ConocoPhillips to go ahead with hugely expensive exploration programs off the coast of West Australia despite increasing concerns of high cost.
Federal Resources and Energy Minister Martin Ferguson says greater market transparency, increased trading opportunities and removing impediments to investment in new supply would adequately respond to calls from large energy users for intervention to secure adequate gas supplies.
Trade Minister Craig Emerson has played down the potential influence of Julia Gillard’s visit to India, saying that uranium trade negotiations may take years.
The West Australian
Chairman of Woodside and the National Australia Bank Michael Chaney says Perth’s resource-based economy has proven resilient over the last few years, despite global downturns. He also states that resources could potentially become the most important export activity in this state for decades to come.
The Courier Mail
President of The Australian Pipeline Industry Association Kevin Lester warned that environmental regulations being imposed on resource projects were becoming too onerous, that the government should stop “regulating for the sake of it”. No Link.
A new underground coal mine in Central Queensland has been given the go-ahead by the state Environment Department to prepare an environmental impact statement for the multimillion-dollar project. No Link.