Rising labor and construction costs as well as declines in commodities prices have cast doubt on AUD$100 billion in mining and energy projects in Australia.
A group of protestors from anti-coal group Quit Coal have staged a dramatic protest in the Australian city of Melbourne today, abseiling down the front of the state parliament building and chaining themselves to its pillars.
The Chinese government has announced it will shut hundreds of small mines this year in an effort to boost safety standards following a colliery accident in Sichuan province which has so far left 45 people dead.
Colombia’s energy and mining minister Federico Renjifo, who assumed the position on Thursday, said he is aware he’ll face difficult times as analysts are predicting a slowdown in demand for the country’s commodities in coming years, but he said he’ll make sure the sector remains competitive and attractive to foreign investors.
Political controversy surrounding suspect allocations of coal mining concessions in India threaten to topple Prime Minister Manmohan Singh with chief opposition party the BJP issuing calls for his resignation.
Qatar’s sovereign wealth fund has publicly said Friday it will vote against the mooted $70 billion merger between Glencore (LON:GLEN) and Xstrata (LON:XTA), which sent shares of both the Swiss commodity trader and the coal giant down the slope Thursday in London.
49-year old Sardinian miner Stefano Meletti slashed his wrists in front of television cameras on Wednesday to protest the planned closure of Italy's last coal pit.