Archived News for Industry Professionals

Treasury has released an exposure draft legislation for the extension of the Petroleum Resource Rent Tax (PRRT) for public comment.

The release of the exposure draft comes as the Federal Government announced last year the extension of the PRRT to all Australian onshore and offshore oil and gas projects, including the North West Shelf.

" We thank the petroleum industry, tax professionals and other stakeholders who have engaged in consultations for their constructive contributions. We encourage all stakeholders, including coal seam gas producers, to make submissions to inform the final design of the legislation," Treasurer Wayne Swan said in a statement.

Federal Government establishes skills standards council

The Federal Government has announced the formation of the National Skills Standards Council (NSSC), which will act as a standards setting body for the vocational education and training (VET) sector with an aim to improve quality and consistency of VET regulation throughout the country.

Bowen Basin resource companies to further indigenous employment

The Federal Government has announced its Bowen Basin Indigenous Mining Contractors initiative that aims to further Indigenous employment in the field.

Carr calls for an end to 'closed loop' ore deals with China

Federal Industry Minister Kim Carr has called an end to the practice of exporting ore to China and, in return, purchasing the finished steel product.

Queensland's Major Projects Office opens

Queensland's new Major Project Office (MPO) has been opened by the State Government in a move to streamline approval processes for developers of major projects.

John Holland Wins Contract for GLNG Curtis Island LNG Jetty

John Holland has been awarded a marine subcontract worth in excess of $90 million which forms part of the works for GLNG’s proposed Curtis Island LNG facility.

Downer EDI announces $166.4 million profit

Downer EDI Limited (Downer) has announced underlying earnings before interest and tax (EBIT) of $292.2 million for the year ended 30 June 2011, 8.1% lower than the previous year. Underlying net profit after tax (NPAT) was 15.7% lower at $166.4 million.

BHP Billiton profit soars

BHP Billiton has posted a record profit of $22.6 billion, almost twice last year’s result and the biggest profit ever recorded by an Australian company.

Greens call for Olympic Dam processing jobs to stay in Australia

In the wake of BHP Billiton’s record profit announcement, South Australian Greens MP Mark Parnell is calling on the South Australian government to insist that BHP process Olympic Dam ore in South Australia, not export it to China to save costs.

Government announces steel support advance

The Federal Government has announced it will introduce a new advance facility into its Steel Transformation Plan (STP) in an attempt to counter the recent troubles in the steel production sector.

BHP to assist BlueScope unemployed

Mining giant BHP Billiton has announced plans to provide support to some of the 1,000 workers who will soon lose their jobs as BlueScope Steel shuts down its Port Kembla Steelworks.

BHP finalises Petrohawk acquisition

Mining giant BHP Billiton has announced the finalisation of its US$12.1 billion acquisition deal to purchase Houston-based Petrohawk Energy Corp.

WPG to sell South Australian iron ore assets to OneSteel

WPG Resources has agreed to sell its iron ore assets in South Australia to OneSteel Limited for about $346 million, crystallising a 400% return on the company's iron ore investment of $70 million.

Greens call for gas rethink

The Federal Greens have warned that billions of dollars worth of coal seam gas investment may become stranded assets within decades.

Arrow awards LNG plant design contract to offshore consortium

Arrow Energy’s plan to construct a multi-billion dollar LNG plant on Curtis Island off Gladstone in Central Queensland has taken a major step forward with the awarding of the front-end engineering design (FEED) contract.

NCVER finds record apprenticeship numbers

A report published by the National Centre for Vocational Education Research (NCVER) shows that a record 460,000 apprentices and trainees are currently in training.

Vale to expand coal operations with Aquila

Brazil based mining giant Vale has announced its plans to co-fund and construct a new $US875 million coking coal mine in central Queensland.

Queensland urban areas off limits to mining exploration

No mining exploration will be allowed in and around urban areas of Queensland, including regional centres such as Ipswich, Toowoomba, Beaudesert, Rockhampton, Mackay and St George Queensland, after a new policy was considered by the Queensland Cabinet.