Barry O’Farrell’s government has shot down mining billionaire Nathan Tinkler’s multi-billion dollar proposal for a fifth coal export terminal at Newcastle Harbour
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Australia’s resource and energy commodity export earnings are expected to reach $206 billion in 2011-12, says the quarterly report by the Bureau of Resources and Energy Economics.
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Australia’s total goods and services exports almost reached $300 billion in the 2010/2011 financial year. This is an increase of more than 17 percent year-on-year.
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Treasurer Wayne Swan has released preliminary Treasury estimates quantifying the impact of the earthquake and tsunami in Japan on the Australian economy. He predicts the devastation in Japan will slash more than $2 billion in export earnings from Australia’s GDP.
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Queensland’s top export industries could take months to recover from the impact January’s extensive flooding and February’s Cyclone Yasi. The coal sector, sugar cane and banana industries have all taken a hit, and commodity experts predict the damage will be more than a billion dollars. North of Townsville 50 percent of sugar cane crops have [...]
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The rise in coal exports from central Queensland may lead to a skills shortage in the state, warned Kylie Porter, chairwoman of the Mackay Chamber of Commerce. A recent deal with China, which is expected to create 7,000 jobs in central Queensland, is the latest source of benefit to the state’s economy, but could drain [...]
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More than $500 million will be invested into the expansion of coal facilities in Central Queensland. The BHP Billiton Mitsubishi Alliance (BMA) announced it will begin final feasibility studies for the Caval Ridge Coal Mine and Hay Point Stage 3 Expansion projects. Queensland Resources Council CEO Michael Roche said that the addition of some 8 [...]
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Australia increased its exports by 22.6 percent to almost $284 billion last year despite the economic downturn, according to a new Department of Foreign Affairs and Trade (DFAT) report, Australia’s Trade by State and Territory 2008-09. Coal and iron ore were the commodities instrumental to export growth. Western Australia had the rising price of iron [...]
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Minister for Resources and Energy Martin Ferguson has called the acquisition of Australian company Felix Resources by China’s Yanzhou Coal Mining an example of Australia’s healthy and mutually beneficial trading relationship with China. Ferguson marked the acquisition last week, speaking at a ceremony with Chinese Ambassador to Australia, Zhang Junsai, in attendance. “The Australian Government [...]
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The Port of Newcastle has set a new record for coal export, according to acting NSW treasurer John Hatzistergos. December 2009 saw the port export 8.97 million tons of coal, which surpassed the previous best recorded just a couple of months prior in October 2009. “The continuing strong demand for coal comes on top of [...]
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