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Australia’s mining reforms have gone distinctly “down under”

Richard — Wed, 23 May 2012 16:36:53 +0000

The Labor-held federal Australian government recently presented its much-awaited 2012 budget. And what a mess of potage it turns out to be! According to Rob Burgess of the Business Spectator, the country’s mining sector “currently accounts for 30 per cent of ‘gross operating surplus’ – its basic approximation of who’s making all the money in this country.” Miners pay only 15 per cent of company tax at present, and they were expecting a further cut in the tax, ostensibly to promote more jobs. But this hasn’t materialised. For the cut was “to come out of the revenue that the government speculates can be raised from the minerals resource rent tax [MRRT].” Now, it seems, the MRRT itself has just about bombed. This affects, among others, Anglo American, BHP Billiton, Rio Tinto and Xstrata.

See http://www.minesandcommunities.org/article.php?a=11692.

Protests threaten energy-hungry miners in Chile

Richard — Wed, 23 May 2012 16:35:40 +0000

Residents close to a proposed new coal-fired power plant in Chile’s Atacama desert region claim its emissions will harm air quality. They also say the temperature of water, released back into the ocean, will impact fish and marine life. The plant is designed to provide power to major copper mining projects, and the proposal is “seen as a litmus test for a string of other potential flashpoints in Chile”.

This article mentions, among others, Anglo American, BHP Billiton and Xstrata.

See http://www.minesandcommunities.org/article.php?a=11695.

London Calling muses on the future of Mining’s Giants

Richard — Fri, 11 May 2012 17:11:55 +0000

Two of the world’s three biggest mining companies – BHP Billiton and Rio Tinto – are currently “dialing down their risks and the pace of their previous dash for growth”. This is in order that they can “adjust to the evolving near to medium-term environment and…focus their spending on the projects with the strongest medium-term returns.” At least that’s the view of Stephen Bartholomeusz, one of the most astute commentators on the mineral industry.

See http://www.minesandcommunities.org/11679.

Rio returns to PNG

Richard — Fri, 11 May 2012 17:08:26 +0000

RIO Tinto has joined the growing ranks of major miners lured to Papua New Guinea. It did not make any grand announcements on the matter but has picked up at least three tenements.

See http://www.pngindustrynews.net/storyview.asp?storyid=8682927&sectionsource=s0…
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Indonesia: No checks on coal mining, says government report

Richard — Fri, 11 May 2012 16:56:33 +0000

Indonesia is the world’s top coal exporter. However, limitations in the supervision of its extraction may be placing the country at risk of massive financial losses and environmental damage. That’s the conclusion of an investigation, recently carried out by the country’s Supreme Audit Agency. The audit claims that more than 1,000 mining companies across the country have failed to comply with environment-related requirements.

Among London-listed companies involved in coal projects in Indonesia are BHP Billiton and Churchill Mining.

See http://www.minesandcommunities.org/11684.

Aboriginal elder loses bid to overturn expansion of BHP Billiton’s Olympic Dam

Richard — Fri, 04 May 2012 19:01:15 +0000

An Australian Aboriginal elder has lost his challenge to the federal government’s approval of expansion of the world’s biggest uranium mine. Kevin Buzzacott had argued that insufficient consideration had been paid to the operation’s long-term impacts and risks posed by storage of radioactive wastes.

See http://www.minesandcommunities.org/article.php?a=11658.

BHP Billiton’s move against Aboriginal elder ‘punitive and vindictive’

Richard — Tue, 01 May 2012 12:22:55 +0000

MEDIA RELEASE AUSTRALIAN NUCLEAR FREE ALLIANCE

1st May 2012

DEMOCRACY AT A PRICE: DECISION BY BHP BILLITON AND FEDERAL GOVERNMENT TO SEEK COSTS FROM ARABUNNA ELDER PUNITIVE AND VINDICTIVE

The Australian Nuclear Free Alliance (ANFA) is deeply concerned by the decision of BHP Billiton and the Federal Government to seek costs from Arabunna elder uncle Kevin Buzzacott arising from his challenge of the Federal approval of the Olympic Dam expansion.

“ANFA members fully support Uncle Kevin and admire his stand for country. We know that history will be the fairest judge of this struggle. BHP and the minister who approved the expansion of Olympic Dam will be forever linked to the toxic legacy of this mine, for thousands of years to come,” said Larrakia woman Donna Jackson, co-chair of ANFA.

“The court decided that Kevin Buzzacott had standing to pursue this challenge, as is his right under both the Environment Protection and Biodiversity Act and the Administrative Decisions (Judicial Review) Act,” said ANFA Committe member Nectaria Calan. “Where does this leave the right to judicial review of such projects if those who seek such a review are then punished with costs?”

Dean Della Vale, president of BHP’s Uranium Customer Sector Group which is responsible for the Olympic Dam project, is a founding member of the Australian Uranium Associations Indigenous Dialogue Group, established to facilitate dialogue with traditional owners.

“BHP pursuing costs undermines any claims by the Indigenous Dialogue Group that they are seeking to engage with aboriginal communities in good faith. Aboriginal communities do not have the right to say no to mining on their land, and here we have an elder using one of the few legal options available to them to ensure that at least the impacts of the project were properly considered, and they may be facing a massive bill for doing so,” said Ms Calan.

“The message BHP are sending is that there are repercussions for taking on the mining giant. Last financial year the company recorded a total net profit of US$23. 95 billion – they certainly don’t need the money,” Ms Calan concluded.

For comment contact:

Donna Jackson + 61 427 847 186

Legal commentary: Nectaria Calan + 61 432 388 665

For background, see http://londonminingnetwork.org/2012/04/bhp-billiton-wants-money-from-aboriginal-elder/.

BHP Billiton wants money from Aboriginal elder

Richard — Wed, 25 Apr 2012 09:05:44 +0000

MEDIA RELEASE FRIDAY 20th APRIL 20212

MINING GIANT SEEKS COSTS FROM ARABUNNA ELDER AFTER RULING ON CHALLENGE TO FEDERAL APPROVAL OF THE OLYMPIC DAM EXPANSION

In a packed courtroom today Justice Besanko dismissed Uncle Kevin Buzzacott’s challenge of the Federal approval of the Olympic Dam expansion. The judge did not discuss his reasons in the court.

Both BHP and the Federal government are seeking costs from Kevin Buzzacott.

The hearing was held in the Federal Court on the 3rd and 4th April, after which the Judge reserved his judgement. Both BHP Billiton and the South Australian government had successfully sought to become parties to the proceedings.

“The speed with which this decision was made suggests pressure to resolve the matter as quickly as possible so as not to impact the project,” said Nectaria Calan of Friends of the Earth Adelaide.

“The judgement is really a product of the constrained nature of such administrative challenges. It really rests on interpretation of two pieces of legislation which govern the Ministers approval. The merits of the project were never on the table for discussion.”

“If such an approval with so many future plans yet to be approved constitutes a proper approval under the Environment Protection and Biodiversity Act, how can such an open-ended project be judicially reviewed?” said Ms Calan.

“The question we are left with is whether the EPBC Act protects the environment,” Ms Calan continued.

“This is a very sad day,” said applicant Kevin Buzzacott. “We offered the judge the issue on a platter, and he wasted an opportunity to make changes that will reverberate in this nation for thousands of years.”

“But we’re not going away. This isn’t over yet,” Mr Buzzacott concluded.

Both Kevin Buzzacott and Nectaria Calan will be available for comment on the details of the ruling early next week once the lengthy judgement has been considered.

Contact: Kevin Buzzacott +61 431 157 747 Nectaria Calan +61 432 388 665

For earlier reporting, see http://londonminingnetwork.org/2012/04/bhp-billitons-uranium-mine-expansion-challenged-in-court/.

Union sets April 12 date for next stoppage at BHP Australia coal mines

Richard — Thu, 12 Apr 2012 14:57:19 +0000

The coal mines, operated by the BHP Billiton-Mitsubishi Alliance JV, will be hit by a two-day work stoppage on April 12, union officials said.

See http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=148860&sn=Detail&pid=92730.…
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Indonesia tries keeping its minerals at home

Richard — Thu, 12 Apr 2012 14:52:09 +0000

Indonesia is considering imposing a hefty tax on mineral exports to curb over-exploitation of the country’s resources, as companies scramble to beat a 2014 law requiring ores be upgraded on-shore. It’s a rational follow-up to the government’s quasi-nationalisation of the mining industry, announced earlier this year. It would affect London-listed mining companies BHP Billiton, Bumi, Churchill and Rio Tinto, among others.

See http://www.minesandcommunities.org/article.php?a=11611.

BHP Billiton declares force majeure

michaela — Thu, 05 Apr 2012 10:14:49 +0000

The world’s biggest miner, BHP Billiton, is declaring force majeure at its coal mines in Australia’s Bowen Basin due to prolonged union strikes and heavy rain, the company said on Monday, in a move that could spur prices of metallurgical coal. About 3,500 unionised workers have been staging rolling work stoppages at the mines since mid-2011 and Australia’s eastern state of Queensland, where the mines are located, was lashed by heavy flooding last year and heavy rain this year. BHP Billiton operates seven coal mines in the Bowen Basin that supply about a fifth of the world’s metallurgical coal, or coking coal used in steelmaking.

See http://www.reuters.com/article/2012/04/02/bhp-force-majeure-idUSL3E8F242A20120402.

BlackRock reduces BHP Billiton stake to 6.5% – paper

michaela — Thu, 05 Apr 2012 10:12:05 +0000

Investor BlackRock has reduced its weighting in BHP Billiton to 6.5% from as high as 10% on concern over near-term returns as the miner pursues a long-term growth strategy.

See http://www.mineweb.com/mineweb/view/mineweb/en/page67?oid=148393&sn=Detail&pid=92730.

Rio wields the diamond blade

michaela — Thu, 05 Apr 2012 10:08:20 +0000

About three months after BHP Billiton announced it was reviewing the future of its diamonds business with a view to selling it, Rio Tinto has followed suit with its own strategic review. The decisions of both of the big miners to question the future of diamonds within their portfolios might, at face value, appear odd. The fundamentals for the sector appear quite solid, with rising demand and little new supply. Demand for diamonds tends to grow with living standards and therefore they lag peaks in demand for hard commodities like iron ore or copper. Rio itself expects demand from India and China to double by the end of this decade. So why sell?

See http://www.businessspectator.com.au/bs.nsf/Article/Rio-diamonds-BHP-Argyle-sale-future-portfolio-De-B-pd20120327-SS5V5?opendocument&src=rss.

Which are the world’s “most controversial” mining companies?

michaela — Thu, 05 Apr 2012 09:53:17 +0000

A new report on the world’s “most controversial” mining firms has named and shamed ten companies, after comparing their performance against the UN Global Compact and other environmental, social and governance principles. The report from Zurich-based RepRisk (a “dynamic business information firm” aimed at investors) emphasises that the risks relate to the companies “access to capital and licenses to operate”.

Top of the list is Alpha Natural Resources, followed by Newmont Mining and Glencore International. The other Top Ten companies evaluated by RepRisk were: BHP Billiton (4th); Freeport McMoran (5th); Rio Tinto (6th); Barrick Gold (7th equal); Anglo American and Vedanta Resources (ranked 9th equal).

See http://www.minesandcommunities.org/article.php?a=11599.

Xstrata Wins Approval for Biggest Australian Coal Mine

michaela — Thu, 05 Apr 2012 09:32:09 +0000

Xstrata Plc, the world’s largest exporter of power-station coal, won court approval to build the A$6 billion ($6.3 billion) Wandoan coal mine in Australia that opponents say threatens the Great Barrier Reef. Carmel MacDonald, president of the Land Court of Queensland, ruled that opponents hadn’t proved the mine would cause environmental harm justifying it being blocked.

See http://www.bloomberg.com/news/2012-03-27/xstrata-wins-court-approval-for-australia-s-biggest-coal-mine.html.