Julia Gillard, determined to join efforts to reduce global warming, intends to revive cap and trade as Europe puts curbs on the United Nations-run emissions credit market and the U.S. opts out entirely.
The Australian prime minister’s plan to make factories and utilities either cut the nation’s greenhouse gases or pay for pollution-curbing programs abroad may force companies to buy an average 66 million metric tons of credits a year starting in 2015, sending prices up 29 percent, according to Bloomberg New Energy Finance. That’s about two-thirds of Europe’s annual demand since 2008.
Newalta Corp. (TSX:NAL) has been awarded a $60 million contract from Syncrude Canada Ltd. to process oil sands mature fine tailings for a demonstration project.
The African continent has historically meant just one thing to the global coal mining industry: South Africa. However, a new coal power is emerging in the form of Mozambique.
The Australian-based Intra Energy Corporation (IEC) has started coal mining in Mbalawala Mine, Ngaka coalfield in Tanzania, targeting both the domestic and export thermal coal markets of Kenya, Mauritius and India.
Ten miners are confirmed dead in a coal mine flooding in Southwest China's Sichuan province, with two others still missing, local authorities said Saturday.
A Deloitte Access Economics analysis, commissioned by the Minerals Council of Australia and to be released today, estimates the industry's tax burden was about 50 per cent higher than Treasury estimates made during last year's bruising battle over the Rudd government's resource super-profits tax.
Canada led the world in the number of mining mergers and acquisitions (M&A) for the first half of the year, says Ernst & Young. And while the number of deals fell in comparison to the highly acquisitive first half of 2010, the value of the transactions that took place this year more than doubled compared to the same period last year.
The country was the leading buyer in H1 with 196 deals, and also the leading target destination with 129 deals. Australia came second as a buyer and target destination, with 83 and 72 deals respectively.
Commodity markets were hit this week by shock news that the United States created no jobs in August, sparking speculation that the world's biggest economy could be heading for a double-dip recession.
Analysts said the data bolstered expectations that the US Federal Reserve could soon decide to implement another round of quantitative easing -- dubbed QE3 by traders -- to help breathe new life into the struggling economy.
The Globe and Mail reports on Friday that MEG Energy, a small oil sands developer partly owned by China's CNOOC, has ponied up $100 million to join another Chinese state-owned firm Sinopec as financial backers of a planned pipeline from the oil sands to the northern British Columbia coast.
Slowing demand in the US is adding pressure for a go-ahead on the Northern Gateway pipeline that will stretch for more than 1,100km at a cost of $5.5 billion affording Canada world prices for its oil, currently priced against heavily discounted US crude. Regulatory hearings are scheduled to start in January.