Australia’s Federal Government has seen sunnier days as reports revealed Thursday it has not collected any revenue in the first three months of its much-debated Minerals Resource Rent Tax (MRRT).
Australian Resources Minister Martin Ferguson says the onset of an era of low commodities prices does not spell the end of the country's China-backed mining boom.
Alberta's oil sands will positively affect all Canadian provinces and will lead to billions of dollars of jobs and investment across the country, says a Conference Board of Canada report released Wednesday.
AngloGold Ashanti Ltd. (NYSE:AU), South Africa's largest gold miner by output, said Wednesday it has began to dismiss about 12,000 of its striking workers, joining this way an increasing list of mining companies that have sacked workers in an effort to end crippling strikes.
Natural gas titan Encana Corporation (TSX: ECA) (NYSE: ECA) posted Wednesday a $1.24-billion net loss in its third quarter, driven mainly by lower natural gas prices over the past year, but it said it was still on track to meet its financial guidance for the full year.
Teck Resources Ltd. (TSX:TCK.B and TCK.A),(NYSE:TCK) said Wednesday it is deferring about $1.5-billion in capital it had expected to spend this year and in 2013, adding its third quarter profit dropped by more than half.