Review 2012: Mar and Apr PDF Print E-mail
Sunday, 30 December 2012 10:35

Fortescue Metals Group’s legal challenge to the mining tax, Clive Palmer, BHP Billiton Mitsubishi Alliance, and iron ore miner Atlas Iron’s MOU with QR National made news in March and April.



- The Federal Government’s revamped mining tax (mineral resource rent tax or MRRT) passes through the Senate with support from the Greens. It took almost two years to get the final stamp of approval and it is projected to bring in more than $10 billion in the first three years after it begins in June. Fortescue Metals Group immediately announces a High Court legal challenge to the tax, calling it unconstitutional.

- Clive Palmer accuses the Greens of being funded by the CIA in return for damaging Australia’s resources projects.

- The assets of Pike River coal mine in New Zealand, where 29 workers died in an accident in November 2010, is sold by receivers to state-owned coal miner Solid Energy for an undisclosed sum.

- A significant discovery could see Kenya join the ranks of the oil-producing countries although further exploration and analysis is required to establish commercial viability.


- BHP Billiton Mitsubishi Alliance (BMA) ceases production at its Norwich Park Mine indefinitely due to the mine losing money because of lower production, increases in costs and lower coal prices.

- Clive Palmer announces he will run against Federal Treasurer Wayne Swan in the next election in the Queensland seat of Lilley as a candidate for the LNP coalition but fails to register by the deadline.

- Pilbara iron ore miner Atlas Iron confirms it has entered into a binding memorandum of understanding with QR National to look into an independent railway for the region. A study is expected to be completed by the end of the year.

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