MARKETS

News Wrap

IN THIS morning's News Wrap: NSW CSG deal drives wedge into Minerals Council; Palmer pursued over...

Lou Caruana

NSW CSG deal drives wedge into Minerals Council

A controversial deal blessed by the New South Wales government that gives farmers a veto over drilling for coal seam gas in NSW has split the powerful Minerals Council of Australia from its NSW affiliate, according to the Australian Financial Review.

MCA chief executive Brendan Pearson slammed the deal, saying it “would leave the development of Australia’s natural resources hostage to the noisy few at the expense of the collective interest of the many” if embraced by more state governments.

“It would be a significant concern if state governments began to embrace an alternative approach that surrendered their control over their natural resource endowment,” Pearson said.

But NSW Minerals Council chief executive Steve Galilee said he was confident the NSW government did not plan to extend the deal struck by Santos and AGL with NSW landowner groups to other resources projects and infrastructure.

Palmer pursued over $36 million bill

Clive Palmer’s prized asset is under threat of being closed down by federal authorities seeking to recover looming debts of $36 million, according to The Australian.

Government agencies are moving to force the company, Queensland Nickel, into insolvency if it cannot pay a carbon tax bill that will triple over the year ahead as penalties apply.

Union tug of war threatens port exports

Tugboat workers and a North American shipping company are no closer to resolving a dispute that could halt some of Australia's biggest mining companies from exporting iron ore, according to the Sydney Morning Herald.

Despite a three-hour meeting at the Fair Work Commission on Monday, the Maritime Workers Union is yet to reach a workplace deal for the deckhands that work the tugboats in Port Hedland, about 1600km north of Perth in Western Australia.

The tugs are crucial to the operation of the port through which companies like BHP Billiton, Fortescue Metals Group and Atlas Iron ship the majority of Australia's most lucrative export commodity.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production