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Mining & Resources
PETER KER Santos says manufacturers can help avoid the looming gas crisis by investing in more supply
Amanda Saunders AngloAmerican chief Mark Cutifani says he expects metallurgical coal mines will be mothballed at a rate of one every two or three weeks until enough supply has fallen out of the beleaguered sector to drive a price recovery.
Angela Macdonald-Smith The New South Wales government says "nothing is off the table" in its desperate bid to stave off potential shortages in gas supplies.
Angela Macdonald-Smith Local oil and gas player AWE has claimed what may be Western Australia's largest onshore gas discovery since the 1960s.
Iron ore's slump to a five-year low won't prevent the world's two biggest miners, BHP Billiton and Rio Tinto, returning cash to investors via higher dividends and buybacks, a resources fund manager said.
Peter Ker and Brian Robins with Philip Wen, Beijing At a time when large parts of the industry are not making any money, coal producers may be faced with heavy additional costs to meet China's tougher environmental controls on coal imports.
Mark Mulligan and Stephen Cauchi The Reserve Bank of Australia has again expressed disquiet about the risks of an overheating housing market, putting it at odds with Federal Treasurer Joe Hockey, who on Tuesday again played down talk of a property bubble.
BRIAN ROBINS Last week it was iron ore. On Tuesday it was coal's turn, with the Chinese government tightening regulations that, while forcing out lower quality imports, will help to protect its domestic coal miners.
Tim Binsted Arrium may have to ask shareholders for more cash and consider closing or halting some of its steel and mining operations despite launching a $756 million equity-raising, analysts say.
BRIAN ROBINS A large portion of Australia's coal exports to China could be at risk from a Chinese government decision to block imports of lower-quality "dirty" coal from 2015.
China has banned the sale and import of coal with high ash or sulfur content in a move to promote cleaner coal and improve the nation's air quality.
PETER KER Fortescue Metals Group chief executive Nev Power has been granted an 11.1 per cent pay rise, as the iron ore miner moves to reward the man who has overseen its near tripling in export volumes.
Amanda Saunders Hancock Prospecting has granted an open-ended extension to its Galilee Basin partner, India’s GVK, on the $US560 million owing on a deal struck three years ago, which underpins one of the country’s biggest undeveloped coal projects.
ELIZABETH KNIGHT The $754 million equity raising by iron ore and steel group, Arrium is being hailed by some as prudent and by others as desperate. The truth lies somewhere in between. The reality is the company that has been carrying too much debt on its balance sheet really didn’t have a choice.
Tim Binsted Arrium chief executive Andrew Roberts has defended the steel and mining group's decision to declare a dividend last month after a collapse in iron ore prices pushed Arrium into a $754 million capital raising to shore up its stretched balance sheet.
MISA HAN Iron ore isn’t the only major Australian export item to have tumbled this year – coal has also been on a roller-coaster ride as Chinese demand decreases.
PETER KER Construction of the second stage of the Oyu Tolgoi mine is expected to start within six months.
BRIAN ROBINS Steel maker Arrium has taken a dim view of its near term prospects, turning to shareholders for $754 million via an onerous one-for-one share issue coupled with a large placement.
Nick McKenzie and Richard Baker Federal police probing alleged bribery by Leighton Holdings are finalising a brief of evidence to present to prosecutors.
MICHAEL WEST Notwithstanding the confected hysteria from the gas lobby over the impending "cliff" in gas supply, it is now clear that it is demand for gas that is dropping sharply, not supply.
PETER HANNAM The NSW Department of Planning is investigating the seemingly phantom appointment by Whitehaven Coal of an environmental group to a compulsory oversight committee for its $767 million Maules Creek open-cut coalmine.
David Stringer and Andre Janse van Vuuren BHP Billiton's spinoff of discarded assets is forecast to deliver investors a two-thirds uplift in earnings - a prospect that may also tempt predators.
MAX MASON Mining magnate Gina Rinehart is urging the Australian government to cut red tape as the mining sector grapples with iron ore prices plummeting to a five-year low.
China's national carbon market is likely to regulate 3-4 billion tonnes of carbon dioxide by 2020 and be worth up to 400 billion yuan ($72 billion), a government official said on Thursday, which would make it twice as big as the EU market, currently the world's biggest.
Wendy Koch Politically "red" and "blue" US states are increasingly turning green as they push energy efficiency and renewable power to save money and protect the planet, says a report today with prominent bi-partisan support.
Sally Rose and Jonathan Shapiro The Australian arm of multinational mining giant Glencore surprised investors on Thursday by announcing a debut deal to tap the local debt capital market for about half a billion dollars.
Tess Ingram Roy Hill Holdings chief executive Barry Fitzgerald says the falling iron ore price isn't of concern to Gina Rinehart's $10 billion venture, but he has refused to reveal the break-even cost of the project.
James Chessell BHP Billiton chief executive Andrew Mackenzie is preparing a visit to the United Kingdom seeking to win over investors frustrated that the resources giant's $15 billion demerged company will not be listed in London.
BRIAN ROBINS NSW will face huge gas shortages within a few years and sharp increases in wholesale prices because of the lack of progress in accessing reserves, federal Industry Minister Ian Macfarlane has warned.