News

The lobby group representing WA’s biggest players in mining has lambasted “harmful” Federal Government policies as waning commodity prices and a slowing Chinese economy cruel the Federal Budget.

Western Australia will have enough gas to keep the economy running until 2027, but a big long-term shortage is still looming.

Lobby groups representing Australia’s biggest miners have hit out at Albanese government policy settings with forecasts for sharp falls in commodity prices factored into a $22bn budget blowout revealed by Treasurer Jim Chalmers.

The Business Council is concerned an increase in government spending, shown in the Mid-Year Economic and Fiscal Outlook (MYEFO) will hamper a private sector-led recovery, which is critical to easing cost-of-living pressures and building a more competitive economy.

National Mining and Related Industries Day 2024 was hosted in November at Santos’s Moomba gas field in South Australia’s Cooper Basin. The event featured a range of speakers, including Gina Rinehart, founder of the day and patron of Hancock Prospecting, as well as opposition leader Peter Dutton.

Pauline Hanson, Guy Sebastian and Gina Rinehart have been spotted at a gala dinner celebrating Australia’s mining industry.

Merry Christmas, Aussie Spectators! Yes I know December is not looking too Chrissie prepared, with rising electricity costs, aircon over summer subject to government planning, that is looking rather unreliable, record business failures, farmers and pastoralists struggling, especially under government tape burdens (like the rest of us), dwindling investment, the resources pipeline list turning into the 80 per cent causality list, and the costs and housing and crime and hospital crises fuelled by far too many government selected immigrants, such crises hurting too many Australians. And seven continuous quarters of standard of living decline, this long decline is a record.

Spending on mineral exploration has slumped to the lowest level in three years as the most represented sector on the ASX goes into cash preservation mode and the scourge of inflation means fewer metres are drilled for every dollar spent.

Our energy costs will go up. We’ll be poorer. Net Zero will be a catastrophe. Let’s stop making people poorer.

West Australian Premier Roger Cook said a deal crunched between Tanya Plibersek and the Greens to establish an environment protection agency would have posed a risk to the state’s mining industry and nation’s prosperity.

Mining profits have taken a $4.6bn hit amid a decline in coal and iron ore exports, driving an unexpected drop in economy-wide earnings and threatening to push the federal budget deeper into deficit.

Anthony Albanese’s left-faction lieutenants have met with Tasmanian community and industry leaders concerned that Tanya Plibersek could shut down the state’s $1.36bn salmon industry, as ALP figures say the Environment Minister is ready to “play the long game” in her political rivalry with the Prime Minister.