News

Pipeline Review Puts Gas on Hold

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.

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Port of Port Hedland grows WA economy

The Port of Port Hedland and the trade it facilitated also contributed $2.01 billion to Port Hedland’s gross regional product in FY23, with $678 million direct economic activity supporting an additional $1.33 billion in indirect economic activity. Local income increased by $1.02 billion and supported 8158 direct and indirect full-time jobs locally. In the Pilbara region, it contributed $63.3 billion in gross product, supported 22,487 direct and indirect full-time jobs, and generated $3.1 billion in incomes.

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DEMIRS approval backlog adds to red tape tangle for energy and mining

Hundreds of mining lease applications have piled up at the State regulator, sparking concerns the logjam could choke WA’s pipeline of investment. About 500 leases were waiting for approval at the end of December, according to recent data from the State Government. The leases are a crucial regulatory step in the $200 billion resources industry as a stamp needed for businesses to dig up minerals and run mines.

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Transparent or top secret?

A probe into whether the Environmental Defenders Office breached the terms of its taxpayer-funded contract during the Barossa gas pipeline legal saga is shrouded in secrecy, with the Federal Government refusing to guarantee its findings will be publicly released. The West can reveal the Environment Department has outsourced the review of the EDO to a private legal firm — but is refusing to explain why.

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The insights of Nick Jorss

“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:

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Rio Tinto’s 2023 Australian tax and royalties bill reaches $A10b as iron ore dues top up State coffers

Iron ore major Rio Tinto paid the State Government more than $US2 billion ($3b) in royalties during 2023 out of a total $US6.6b Australian tax bill for the year. The miner — which derives the bulk of its income from iron ore operations in WA — paid $US2.2b in overall taxes and royalties to the State Government compared to a $US2.1b payment for 2022, according to a report released on Thursday

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Chanticleer | Soul Patts’ Millner rails against secretive new laws

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.

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