Archived News for Industry Professionals
A $1.3 billion package has been announced as part of the Federal Government's carbon price plan to support companies with high levels of fugutive emissions in the mining process. However, coal mining companies will not be eligible for free emissions permits that have been promised other energy-intensive, trade-exposed industries.
The Prime Minister, Julia Gillard, said the impact of a $23 a tonne carbon price on the industry will be low – around $1.80 per tonne of coal produced for coal mine fugitive greenhouse gas emissions. However, gassy mines will face significant cost pressures as the carbon price is introduced.
A $1.264 billion Coal Sector Jobs Package will assist the operators of these mines to support jobs and local communities, some of which rely heavily on coal mining employment. The Coal Sector Jobs Package will provide financial assistance over six years to Australia’s most pollution-intensive coal mines and assist them to reduce their pollution.
UGL secures $400 million in new resources contracts
UGL Limited has announced that it has secured new works and contract extensions with a range of blue chip customers in the oil and gas, coal and alumina
sectors. These works have a total end value of approximately $400 million, distributed between new works and contract extensions.
Victoria leads as petroleum industry investment opportunity
The 2011 Fraser Institute Global Petroleum Survey has ranked the commercial environment in Victoria for the petroleum industry as the best in Australia and the fourth-best in the world.
Victoria also scored strongly in the key index of the survey measuring how attractive jurisdictions are for investment in the upstream oil and gas industry, ranking 19th out of 136 global jurisdictions for its lack of barriers to investment.
The Fraser Institute surveyed 478 of the world's top oil and gas companies who together accounted for more than 60 per cent of upstream oil and gas exploration expenditure last year.
The survey result comes in the wake of recent figures from the Australian Bureau of Agricultural and Resource Economics (ABARE) which found there were $4.6 billion worth of oil and gas projects either confirmed or under construction across Victoria.
A link to the Fraser Institue report is here .
WA targets local industry participation in resource projects
The WA Commerce Minister Simon O’Brien has announced a ‘10-step framework’ designed to improve channels of communication between suppliers and project proponents and to ensure the State has a more complete picture of what benefits resource projects bring to WA.
LNG industry hamstrung by skills shortages
Australia’s skills shortage is a major constraint on the growth of the liquefied natural gas industry, according to Macquarie Private Wealth.
Beach to increase Parsons reserves
Beach Energy has successfully encountered a six metre oil column at the Parsons-5 development well in the Cooper Basin Western Flank.
FMC Technologies to supply subsea systems for Shell's Prelude Project
FMC technologies has been awarded a contract to supply subsea production and associated topside systems to Shell’s Floating Liquefied Natural Gas (FLNG) facility at the Prelude Gas Field off Australia’s north west coast.
Bureau of Resources and Energy Economics begins operation
The new Bureau of Resources and Energy Economics (BREE) has begun operations as an independent research unit within the Federal resources, energy and tourism portfolio.
Downer EDI wins $50 million Rio Iron Ore contract
Downer EDI has won a $50 million contract for work at Rio Tinto's Warramboo project in the Pilbara.
Greens and industry gulf widens
The dispute between the Federal Greens and the mining industry has intensified after the party urged a debate on measures to slow down the $65.3 billion iron ore sector according to an article published the Australian Financial Review.
Native title agreement signed off for Woodside's Browse Basin LNG project
The Western Australian Government has finallised agreements with the Goolarabooloo Jabirr Jabirr native title claimant group and Woodside Energy Ltd to secure access to land at James Price Point, north of Broome, for the establishment of a Liquefied Natural Gas (LNG) precinct to process gas from the Browse Basin Gas reserves.
Icthys Browse Basin gas project given green light
The Federal Environment Minister Tony Burke has approved Inpex's Ichthys Browse Basin project, including a gas field facility, pipeline and processing facility, under the Environment Protection and Biodiversity Conservation (EPBC) Act 1999, subject to environmental conditions
Innovative coal to diesel plan announced
Petroleum and minerals explorer, Central Petroleum Ltd, and Allied Resource Partners (ARP) have announced agreement to undertake a feasibility study on a $7.5 billion plan to convert coal deposits in the Pedirka Basin in Central Australia to diesel by gasification.
Jupiter begins feasibility study on $1.6B Mount Ida Magnetite Project
Jupiter Mines has commenced a feasibility study on its A$1.6 billion Mount Ida Magnetite Project in the Central Yilgarn region of Western Australia.
Rio Tinto buys Riversdale, appoints new chief
Australian mining Giant Rio Tinto has completed its $4 billion acquisition of Riversdale Mining after the compulsory acquisition of the remaining Riversdale shares was announced. The purchase of Riversdale Mining will significantly expand Rio's operations in Mozambique.
Shenhua continues NSW coal land grab
The Australian has revealed that Chinese mining giant Shenhua has been buying coal rich land throughout New South Wales in an attempt to shore up its coal base in Australia.
Mining giants enjoy cash rich balance sheets
Mining giants BHP Billiton and Rio Tinto are looking to generate up to $20 billion each in free cash flow according to Merril Lynch analysts.
BHP alumina project experiences $1.2 billion blowout
Mining giant BHP Billiton has suffered another cost blowout after it was announced its Worsley alumina project has experienced a $1.2 billion blowout and nine month delay.
300,000 workers needed in resource states
Queensland and Western Australia are set to experience a massive demand in skilled labour over the coming years, with 300,000 workers required to continue economic growth.
Oakajee port in strife
Western Australia’s Oakajee iron ore port and rail project has taken another serious blow after one of the two main developers announced it was struggling to raise the required funding for the site’s construction.