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About 3% of vehicle sales are now electric. Congratulations only 97% more to go! Just don’t ask how you’re supposed to charge all of them… Natural Resources Committee 16/11/2022.

RECRUITMENT for more than 370 jobs, new investment and future contracts related to Queensland’s $1bn Atlas expansion project – aimed at boosting east coast supplies – will be put on ice until the outcome of the Albanese government’s consultation on its new gas price cap rules. Senex Energy, which is jointly owned by South Korean giant POSCO International and Gina Rinehart ’s Hancock group, announced the decision on its website, in response to the passing of the energy price relief bill earlier this month. New laws passed by the Albanese government “that could arbitrarily dictate investment returns” for gas producers puts its investment at risk and would result in less gas, electricity shortages, fewer jobs and weaker regional communities that rely on the resources sector, Senex warned.

Future gas and LNG projects valued at $32bn are under threat of having investment stalled or pulled under the Albanese government’s “hostile attitude to Australia’s resources sector” after the Gina Rinehart-backed Senex paused its $1bn Surat Basin expansion. Senex has left open the possibility of returning to the $1bn expansion if the federal government rethinks its gas industry plans. However, it has paused recruitment and spending on long lead items “pending the outcome of the Albanese government’s mandatory code of conduct consultation process” on February 7.

Norwest offer a ‘Christmas present’ Chris Ellison’s Minerals Resources is open to cooperating on gas with Gina Rinehart after joining the gathering consolidation of the onshore Perth Basin with a $403 million buyout bid for partner Norwest Energy. The $16 billion mining and services group has bypassed Norwest’s board and gone straight to its shareholders, seeking to secure full ownership of the Lockyer Deep gas find, touted as potentially Australia’s biggest onshore discovery. “It’s Christmas time, so we’re giving the Norwest Energy guys the ultimate present, MinRes shares wrapped in a bow,” Mr Ellison, MinRes’ founder and chief executive, said.

One of Australia’s biggest gas producers has accused the Albanese Government of a “Soviet-style nationalisation” of the industry after its controversial pricecontrol laws passed Parliament. One of Australia’s biggest gas producers has accused the Albanese Government of a “Soviet-style nationalisation” of the industry after its controversial pricecontrol laws passed Parliament.

Premier’s economic update is SO GREAT he had to find ways to shrinks $1,844,000,000 surplus Premier Mark McGowan’s embarrassment of riches has been starkly revealed in yesterday’s mid-year Budget update which shows this year’s surplus rising to $1.84 billion despite big increases in spending as mining royalties soar. It comes as the State Government upgraded its revenue for 2022-23 by $2.2 billion since the May Budget with iron ore alone tipping in an additional $1.5b.

Iron ore development in Western Australia is drawing attention thanks to big moves made by Hancock Prospecting and BHP. Hancock Prospecting executive chair Gina Rinehart has shown that her recent investments in gas and critical minerals have not shifted her presence in the iron market. Rinehart has fully united both Roy Hill and Atlas Iron under one roof thanks to an initial deal struck in 2018. The new conglomerate will see Roy Hill chief executive Gerhard Veldsman become CEO of group operations at Hancock. The new title will come with added responsibility for Roy Hill and Atlas Iron operations, as well as other projects.

More than 56,000 small and medium businesses could be hit with “industrial mayhem” under Anthony Albanese’s workplace shake-up, the Coalition has warned, as key crossbench senator David Pocock pushes the government to widen multiemployer bargaining exemptions.
In its submission to the Senate inquiry, Gina Rinehart’s Hancock Prospecting said “at a minimum the mining sector must be excluded from multi-employer bargaining”. The iron ore, beef and coal giant, which directly employs 4500 workers and supports 9000 jobs, said the bill “puts at risk not only the interests of mining workers, but the broader economic benefits and tax and royalty revenues the mining industry makes possible”.