Archived News for Industry Professionals - June, 2011
A report released by the Australian Coal Association on the impact of the proposed carbon price on the black coal mining sector in Queensland and New South Wales has warned that it would cost around 4,700 mining jobs in the two states, and up to 14,100 jobs in the wider Australian economy.
The report claims that emissions pricing would further eliminate 25-37 per cent of potential new jobs within mines rendered unviable by emissions pricing. These do not include job losses from changes to production rates in response to emissions pricing imposts.
The total loss of coal sales over the period from implementation of emissions pricing to the end of 2020/21 is estimated to exceed $22 billion.
WA carbon capture and storage assessment funded
The Collie South West Hub capture and storage (CCS) trial project in Western Australia is to receive up to $104 million in matching Federal and State funding for the completion of a detailed storage viability study.
Gold remains strongest commodity
49 percent of all applications for the Western Australian Co-funded Exploration Drilling Program’s are for gold, making it the most sort after commodity according to the State’s Mines and Petroleum Minister Norman Moore
Penrice Soda Holdings and GE strike deal over water technology
Penrice Soda Holdings Ltd and General Electrics have struck a deal to provide the coal seam gas (CSG) industry with a new process to remove brine from wastewater.
Australia and Germany sign energy and resources R&D pact
Australia and Germany have signed a Joint Declaration on Energy and Resources Cooperation which aims to increase cooperation and research and development collaboration between the two countries in the resource and energy sectors.
Heavy engineering demand drives mining labour market
Recruitment consulting firm Hays has published its annual salary guide, finding that demand for mining engineers has reached critical levels throughout the country as Australia’s booming resources and mining sector 'spearheads our economic recovery.’
IEA predicts golden future for natural gas
The International Energy Agency has released a special report on the future of natural gas as part of the global energy mix, outlining what it describes as the ‘Golden Age of Gas Scenario’, or the GAS Scenario.
PWC says game has changed in mining
PriceWaterhouseCoopers has published its Mine 2011 report, finding a “[global mining] industry that is enjoying spectacular growth, but is also facing new and complex challenges”.
O'Farrell hints at royalties move
New South Wales Premier Barry O’Farrell has hinted that he may consider a royalties hike, similar to that of Western Australia.
Carbon price job losses "trivial"
A study conducted by the Australian Bureau of Statistics and the Household and Income Labour Dynamics of Australia (HILDA) group has found that job losses caused by the introduction of an emissions trading scheme (ETS) would cause minimal deviation from the mean over the next ten years.
Rio strikes deal with traditional owners
Rio Tinto and the traditional owners of the Pilbara region in Western Australia have struck a deal that will see the mining giant invest $2 billion in the local community over 40 years while the company has access to massive iron ore deposits.
Resourcehouse pulls out of Hong Kong float again
Clive Palmer’s development giant Resourcehouse has pulled out of the company’s planned Hong Kong float for a fourth time, citing poor market conditions as investors stay wary of company’s international prospects.
Construction of Gladstone LNG project starts
Prime Minister Julia Gillard and Queensland Premier Anna Bligh have announced the commencement of the construction of the $16 billion Gladstone liquefied natural gas project.