INTERNATIONAL COAL NEWS

News Wrap

IN THIS morning's News Wrap: Coal contractor to BHP, Anglo being wound up; Palmer says he's the v...

Lou Caruana

Coal contractor to BHP, Anglo being wound up

An Australian company that contracts to major miners BHP Billiton and Anglo American looks set to be wound up, in the latest failure to hit the struggling resources services sector, according to the Sydney Morning Herald.

The Australian Tax Office has applied to wind up Gold Coast mining contractor Civil Australia Holdings, with a court hearing into the process scheduled for April 22.

Workers for Civil Australia have been thrown into limbo by the collapse and some are claiming to have worked unpaid shifts for the contractor at Anglo's Callide thermal coal mine in Queensland.

Palmer says he's the victim of Four Corners program

Clive Palmer has written to ABC managing director Mark Scott claiming he was victimised by the national broadcaster after television program Four Corners turned its sights on the resources-entrepreneur-turned-politician on Monday night, according to the Australian Financial Review.

With administrators FTI Consulting on Tuesday expected to recommend that Queensland Nickel be placed in liquidation, Palmer could now be pursued by the corporate regulator over his role in the company leading into its financial problems.

CITIC wipes out local tax bill

CITIC's Australian arm lowered its 2014 tax bill by using related parties in places like Bermuda, at the same time as it received government subsidies for the Portland aluminium smelter, according to the Sydney Morning Herald.

CITIC Resources is listed on the Hong Kong stock exchange but incorporated in tax haven Bermuda.

CITIC Group's 2014 accounts, filed with the Australian Securities and Investments Commission, state that the Australian arm had a net profit of $US21.6 million. This was down from $34.8 million the year before. Its revenue was $2.1 billion, down from almost $5 billion the year before.

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