Revocation of Australia’s largest coal mine licence ‘a sabotage’ — Abbot

Ukraine always has been and always will be a reliable partner for transit of energy to Europe, stated the Ukrainian Minister of Energy and Coal Industry Yuriy Boyko during his meeting with the representatives of the foreign diplomatic corps in Ukraine. "Ukraine has demonstrated its commitment to integration with the European Union in the energy sector by becoming a full member of the Energy Community and carrying out comprehensive work to bring its energy sector in accordance with European requirements," stressed the Ukrainian energy minister.

A new study says the oil sands will boost the economy by two trillion dollars and add more than 900,000 new jobs over the next 25 years.

Amid dire predictions about job losses and the drying up of investment in the sector due to a proposed carbon tax come more bad news for Australia's coal miners. Platts reports New South Wales plans to increase the royalties it receives from coal companies to offset some $400 million in extra costs to the state's coal-fired electricity generators due to the very same federal government carbon levy. Around 95% of NSW's royalty revenue comes from coal mines where rates currently top out at 8.2% of the value of production and is forecast to rise to $2.1 billion in the year ending June 2013 after the hikes come into effect.

Australians believe that the mining industry is much larger than it actually is, according to a study by the Australian Institute. In the study released on Thursday, Australians were asked to estimate what percentage of the nations workers are employed by the mining industry. The average response was around 16 per cent, when according to the Australian Bureau of Statistics (ABS) the actual figure is 1.9 per cent. The survey also found Australians believe that mining accounts for more than one third (35%) of economic activity. However, ABS figures show that the mining industry accounts for around 9.2 per cent of GDP.

The Canberra Times reports Australia's proposed emissions trading scheme – which will evolve from the carbon tax being implemented next year – has won praise from Beijing, where it will be the model for one of six Chinese pilot programmes to be introduced in 2013. Earlier this week the EU also endorsed the controversial Australian plans and announced the start of talks for the eventual linkage of carbon trading by 2015. The carbon tax is vociferously opposed by Australia's coal export industry, the world's largest, which will be forced to pay a levy of $25 per metric tonne of carbon pollution next year.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - East Asia Minerals Corporation (TSX VENTURE:EAS) wishes to report on the progress of its 2011 summer drilling campaign at its wholly-owned uranium projects located in Mongolia. The drilling campaign was launched in August with the objectives of (a) meeting annual expenditure requirements to keep the projects in good standing; (b) test previously identified targets at the Enger and Ingenii-Nars projects; and (c) initiate early stage exploration at the Ulaan Nuur, Sevsuul Bulag, Bukht Uul and Unegt prospects.

AAL - Anglo American Latest Prices LONDON (SHARECAST) - Multi-metal mining giant Anglo American is rumoured to be considering an offer for US coking coal miner Walter Energy. According to The Times, the FTSE 100 miner could pitch an offer price at $120

The deal-making frenzy in the global mining sector during the first half of the year was followed by a dramatic drop in activity in July and August, according to a new report by consultants PricewaterhouseCoopers. Figures from the report titled Riders on the Storm show that in July and August the value of global mining deals fell by 49% and deal volumes declined by 25%. The sharp reversal came after a record first half when 1,379 deals worth $71bn were announced even though Chinese entities, firmly focused on value, retreated from iconic western takeovers. Buyers were also willing to pay over the odds for large publicly listed targets – for $500 million+ acquisitions, the average premium was 37%. For sub-$500 million deals, premiums averaged a mere 8%.

Based on a study looking at five major solar markets – Germany, Italy, France, Spain and Britain – the Brussels-based European Photovoltaic Industry Association, the biggest of its kind, said competitiveness with conventional forms of energy such as coal could be reached by 2020, but in certain markets it could take just two or three years. The report notes the output of producers more than doubled in 2010, reaching a world-wide production volume of 23.5 gigawatts of photovoltaic modules. This is a more than 500-fold growth since 1990 and the pace of growth is not expected to slow. Predictions are for investments in PV technology to double from €35-40 billion in 2010 to over €70 billion in 2015. Governments have also been cutting back on subsidies for the industry to ensure a speedier reduction in costs.