MINERAL INDUSTRIES – AUSTRALIA

Coal vital to post-virus boost: minister

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Original article by Peter Ker
The Australian Financial Review – Page: 10 : 6-May-20

Federal Resources Minister Keith Pitt has stressed the importance of resources projects to the Australian economy as it recovers from the coronavirus pandemic. He has urged banks to continue to support coal projects, as a growing number of lenders move to reduce their exposure to the sector. Pitt has also emphasised the need to address the issue of ‘green lawfare’, which resulted in Adani’s Carmichael coal project being subject to multiple legal challenges.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES, ADANI MINING PTY LTD

Miners seek assurance on fuel tax break

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Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 21-Apr-20

The resources sector is lobbying the federal government not to touch the diesel excise rebate as it looks at ways to repay the cost of the COVID-19 pandemic. The rebate is worth around $2 billion to the resources sector; it is also received by other industries, including fishing and agriculture. Minerals Council of Australia CEO Tania Constable contends that imposing higher taxes to pay for the cost of COVID-19 will harm jobs and curtail growth, while she notes that both the Henry tax review and Treasury are of the view that the fuel tax credit is sound economic policy.

CORPORATES
MINERAL COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

Gold beats coal as iron ore drives export record

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Original article by Nick Evans
The Australian – Page: 13 & 18 : 19-Dec-19

The Department of Industry, Innovation & Science now expects Australia’s resources exports to top $281bn in 2019-20. This is $4bn lower than was forecast in June, although it will still be a new record. Resources exports are forecast to fall to around $256bn in 2020-21, due to factors such as an expected fall in the iron ore price and the resumption of shipments from Brazil. This will see Australia’s iron ore exports fall to $65.5bn in 2020-21, compared with expectations of $84bn in the current financial year. Gold exports are tipped to reach a new high of $27.8bn in 2019-20, before falling to $25.9bn in 2020-21.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Big projects to get strike protection

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 22-Oct-19

Industrial Relations Minister Christian Porter has urged Labor to support legislation to allow workplace agreements to apply for the entire construction phase of greenfields projects. The move is aimed at preventing unions and workers from disrupting a resources, energy or infrastructure project by seeking improved wages and conditions if an enterprise agreement expires in the middle of the construction phase. The Construction, Forestry, Maritime, Mining & Energy Union’s Dave Noonan contends that it is unfair to lock in terms and conditions that could last for 5-10 years.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, MINERALS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, CHEVRON CORPORATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Push to break China metals dominance

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Original article by Nick Evans
The Australian – Page: 17 & 20 : 3-Sep-19

A new report from the Department of Industry notes that Australia is one of the six leading sources of so-called critical minerals, such as rare-earth elements, cobalt, niobium, antimony, magnesium and tungsten. Cobalt and niobium are the only two minerals identified by the Department for which China is the major supplier and processor. Resources Minister Matt Canavan has highlighted the growth opportunities for Australia in terms of global supply of critical minerals. However, commodity prices and production costs will be the key issues for Australian miners.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, LYNAS CORPORATION LIMITED – ASX LYC

Resource export earnings surge

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Original article by Perry Williams
The Australian – Page: 17 & 21 : 1-Jul-19

The Department of Industry estimates that Australia’s resources export earnings reached a new high of $275bn in 2018-19. It forecasts that this will top $285bn in 2019-20, before falling to $260bn in 2020-21 as commodity prices ease. Iron ore exports are forecast to reach a record $79bn in 2019-20, up from $75bn in 2018-19, and ease to $65bn in 2020-21. Resources Minister Matt Canavan notes that mining investment has fallen in the last five years, and he says governments in Australia should capitalise on high commodity prices by reducing the regulatory barriers to investing in the sector.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, ADANI MINING PTY LTD

Belts tighten across exploration sector: BDO

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Original article by Peter Ker
The Australian Financial Review – Page: 30 : 11-Jun-19

ASX-listed companies spent $363 million on exploration for minerals, oil and gas in the first three months of 2019, according to accounting firm BDO Global. It was the lowest quarterly exploration expenditure since the three months to June 2017, when just $338 million was outlayed. BDO also found that the average cash balance among exploration companies had declined from $5.79 million to $5.62 million, while the number of exploration companies listed on the ASX is on the decline.

CORPORATES
BDO GLOBAL, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO

Thank me for miners’ GST push: Grylls

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Original article by Paul Garvey
The Australian – Page: 13 & 14 : 10-Jan-17

Minerals Council of Australia CEO Brendan Pearson has rejected suggestions that its proposal for changes to the system for distributing GST revenue was influenced by Western Australian National Party leader Brendon Grylls. The MCA’s submission to the Productivity Commission argues that the system disadvantages states that encourage the development of resources projects. Grylls urged the mining sector to lobby for GST reform in 2016, when he proposed to increase the state’s iron ore levy from $A0.25 per tonne to $A5.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. PRODUCTIVITY COMMISSION, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO

Growth-sapping GST must face overhaul: miners

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Original article by Sid Maher
The Australian – Page: 1 & 2 : 9-Jan-17

The Minerals Council of Australia has used its submission to the Productivity Commission’s five-year productivity review to urge changes to the system for distributing goods and services tax revenue. The MCA argues that the current system redirects GST revenue from states that have encouraged the development of natural resources to states that place strictures on mining and energy projects. The MCA has also called for a reduction in the corporate tax rate and action to address the power of unions under the Fair Work Act.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. COMMONWEALTH GRANTS COMMISSION, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Maintenance boom for resources

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Original article by Tess Ingram
The Australian Financial Review – Page: 13 & 18 : 19-Dec-16

BIS Shrapnel forecasts that Australia’s resources sector will increase expenditure on maintenance work by 52 per cent over the next five years, to $A10bn. Adrian Hart of BIS says this will include both expenditure that has been deferred and spending on new assets. He adds that there could be some consolidation in the mining services sector as a result. The oil and gas sector is expected to account for the bulk of the increased expenditure on maintenance activity.

CORPORATES
BIS SHRAPNEL PTY LTD, PROGRAMMED MAINTENANCE SERVICES LIMITED – ASX PRG, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, WORLEYPARSONS LIMITED – ASX WOR, MONADELPHOUS GROUP LIMITED – ASX MND, UGL LIMITED – ASX UGL, CIMIC GROUP LIMITED – ASX CIM, RIO TINTO LIMITED – ASX RIO