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.

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.

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

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 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 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 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 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. 

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.

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.

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.

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

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.

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

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.

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.

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

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.

The Queensland State Government has signed an agreement with the resources sector over sourcing new workers for the industry from coastal areas with high unemployment.

A report has found that strong and immediate action against climate change through policy and industry reform would create 102,422 extra mining jobs by 2030.

The Minerals Council of Australia has upped its anti-carbon tax campaign after announcing it will invoice its members for contributions to screen a fresh round of television and film advertising campaign.

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