Review 2012: Jan and Feb PDF Print E-mail
EDITOR   
Sunday, 30 December 2012 10:31

Ichthys LNG project, QR National’s proposed Central Queensland Integrated Rail Project, a government backflip on uranium exploration, and the MRRT (mining tax) legislation made headlines in January and February.

 

JANUARY


- The final investment decision for $33 billion Ichthys LNG project (pictured) in the north of Australia is approved by Inpex and Total. Darwin will be the site of the onshore gas processing facilities, which will be built to produce 8.4 million tonnes LNG per annum from gas extracted from the Browse Basin off the north coast of Western Australia.

- The Queensland Government’s decision to grant significant project status for QR National’s proposed Central Queensland Integrated Rail Project, which would link multiple mines in the Galilee and Bowen basins to coastal ports, sparks threats of an $8 billion lawsuit from Clive Palmer and China First, who were behind a rival bid.

FEBRUARY


- The New South Wales Government chucks a u-turn on a 26-year ban on uranium exploration. Premier Barry O’Farrell said, “we’d be mugs…not to do this step” as his reason behind the decision, despite promising not to in the state election.

- Xstrata confirms it is in merger discussions with commodities trading giant Glencore International but says no offer had been made.

- (Former) Australian Greens leader Bob Brown urges Federal Treasurer Wayne Swan to reconsider extending the mining tax to gold, uranium and other minerals before the MRRT (mining tax) legislation is passed.




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