News
Business community warns Labor’s IR laws will result in 1970s-style strikes and job chaos
“Businesses will carry a much heavier regulatory burden which inevitably leads to less productive workplaces. It is not a long term recipe for wage growth, it is the opposite.” WA’s mining giants including Gina Rinehart’s Hancock Prospecting and Rio Tinto have been among the most vocal critics, saying there was no evidence the reforms backed by unions would create real wages growth or boost productivity.
Rinehart warns of ‘heat or eat’ choices as energy costs surge
The speech marked the tenth anniversary of the Hancock Prospecting-instigated National Mining and Related Industries Day. Mrs Rinehart, who rarely gives interviews, is also celebrating 30 years since she returned to Hancock Prospecting as the group’s executive chairman. Hancock Prospecting now makes enormous profits from the Roy Hill iron ore mine developed under Mrs Rinehart’s leadership as well as receiving royalties from Rio Tinto.
Resources fund keeps boom times rolling
That this State has been blessed with a great bounty of natural resources is a wonderful gift. Through flukes of geology and the hard yakka of generations of miners, WA has established itself as one of the world’s strongest economies.
Now it looks like it will help us dodge the turmoil wreaking havoc in other major economies around the world. However, one of the shortcomings of a resources-dependent economy such as ours is its boombust nature. When times are good, money flows and everyone benefits. Hancock Prospecting has committed $100m while Woodside, Chevron and Mineral Resources have chipped in $50m apiece.
MINING GIANTS DIG DEEP FOR WA
Western Australia’s pandemic defying resources boom will be immortalised for future generations through the establishment of a $750 million community investment fund backed entirely by some of the State’s biggest mining companies. Six industry giants have already committed substantial sums of cash to the Resources Community Investment Initiative: Rio Tinto and BHP ($250 million each), Hancock Prospecting ($100m), Woodside ($50m), Chevron ($50m) and Mineral Resources ($50m). Mr McGowan said the idea was sparked around the time of his Government’s $50m commitment to the Aboriginal Cultural Centre — a funding pledge later matched by the Albanese Government before May’s Federal election.
Roy Hill Recognised at Australian Mining Prospect Awards 2022
Roy won the Mine Project Success of the Year Award for the WHIMS Expansion Project (WHIMS 1.5). The pioneering of the Wet High Intensity Magnetic Separator (WHIMS) plant in December 2019 allowed capture of high-grade ultrafine iron ore units which would otherwise have ended up as waste.
Atlas Iron Recognised at Australian Mining Prospect Awards 2022
Atlas won the Indigenous and Community Engagement Award for it’s awarding it’s joint venture mining contract for the Miralga mine to East West Pilbara (EWP) and Ozland in August 2021. Atlas Iron’s General Manager – Projects, Stacey Brown, was recognised with the Project Lead of the Year Award for the Sanjiv Ridge and Miralga hematite iron ore mines, two mines that celebrated first ore at the height of the Covid pandemic on time and on budget.
HOLIDAYS OF OUR LIVES THE ENDURING ALLURE OF HAYMAN ISLAND
Travel & Luxury | 12 November 2022
Australia’s ‘nice problem’ from the Ukraine war
“It’s a nice problem to have,” said CommSec chief economist Craig James. “Demand for our commodities is soaring, and our trade surplus remains significant. Dollars are being injected into the economy at a time when the Reserve Bank is trying to slow growth in activity, income and spending. “At the same time, imports are also growing – highlighting an improvement in supply as well as higher prices. Overall, the trade situation is good news.”