Hunter Valley coal miners face tougher groundwater extraction rules

Coal miners in the Hunter Valley face stricter limits on their groundwater extraction, after the New South Wales government introduced new rules, according to the Sydney Morning Herald.

New groundwater sharing plans for the northern coastal regions of the state were introduced on July 1, and an extraction limit has been set for each water catchment for the first time.

Political accord vital amid global volatility, says KPMG head

The Sydney Morning Herald reports that global upheaval, lacklustre growth and digital disruption make a negotiated political process more important than ever for Australia, says Peter Nash, the chairman for Australia of professional services group KPMG.

Nash said on Wednesday that even stable, advanced countries such as Australia could be left behind as the battle for a bigger share of "modest" world growth intensified, the pace of technological change stepped up a gear and geopolitical volatility continued to disrupt markets and governments.

Uranium spot prices descend beyond decade low

Uranium spot prices are still likely to stage a rapid recovery on the back of improving demand, industry analysts and executives argue, despite a persistent supply glut driving prices to a largely unanticipated 11-year low, according to the Australian Financial Review.

Spot prices for uranium oxide, which is used mainly as fuel for nuclear reactors, crept below $US27 ($36) a pound in June for the first time since mid-2005.