BHP and Rio Tinto are quietly exiting coal

The coal divestment lobby has stopped campaigning against BHP Billiton and Rio Tinto, which have been quietly selling their coal mines and are unlikely to approve new ones, according to the Australian Financial Review.

While neither company has publicly stated they are exiting from coal used for power stations, both have cut their exposure over the past two years as prices have declined and public opposition grown.

Bradken share price dive reopens door to predators

The share price of battling mining services firm Bradken has tumbled to less than 50¢ from $3.85 a year ago, but managing director Brian Hodges says while costs are being cut hard he's also trying to protect the basics of the business, according to the Australian Financial Review.

Hodges was speaking to Fairfax Media from the United States, where he is overseeing another round of cost-cutting. But he said he was conscious that slicing into the business too hard after heavy cost reductions already would make it difficult to derive any benefit when the mining cycle eventually began to pick up again.

Walsh urges Australia to look to Asia for tax lessons

Rio Tinto chief executive Sam Walsh says Australia should look to Asia when trying to determine what its corporate tax rate should be in the future, according to the Sydney Morning Herald.

Speaking in Melbourne on Wednesday, Walsh joined the chorus of business leaders calling for Australia's corporate tax rate to be lowered.