Obama seeks to make 30% cut in US carbon dioxide emissions by 2030

The US power sector must cut carbon dioxide emissions 30% by 2030 from 2005 levels, according to federal regulations unveiled on Monday that form the centrepiece of the Obama administration's climate change strategy, according to the Sydney Morning Herald.

The Environmental Protection Agency's proposal is one of the most significant environmental rules proposed by the US and could transform the power sector, which relies on coal for nearly 38% of electricity.

Idemitsu admits it hired contractors in coal spy operation

Mining company Idemitsu Australia Resources has admitted it contracted two companies at the centre of the extraordinary operation to use spies to infiltrate protesters opposed to the expansion of coal mining in northern New South Wales, according to the Sydney Morning Herald.

The admission follows revelations on Monday of the clandestine but bungled operation.

Several of the private intelligence operatives were uncovered by the activists.

Iron ore producers plan cuts

Iron ore producers have warned they are expected to cut or push back non-essential spending until they have clarity about the bottom of the current price fall, according to the Sydney Morning Herald.

Grange Resources managing director Wayne Bould said discretionary spending, such as training programs, external consulting and equipment upgrades, should all be deferred.

Bould’s comments came as the iron ore price slide continued down to $US91.80 per tonne over the weekend.

“When we see the numbers take a dive as they have and you don't see any clear bottom then a prudent CEO would implement a pretty straightforward plan to curtail any optimistic activity and lock down,” he said.