Resources and Energy

Fair Work allows mining workers to opt out of collective union agreement

mheffernan@smartcompany.com.au (Madeleine Heffernan) — Fri, 27 Jan 2012 01:09:41 +0000

Fair Work Australia will allow workers in a Queensland coal mine to opt out of a collective union agreement and into individual contracts, after the industrial umpire ruled that the company's undertakings met the 'better off overall' test within the Fair Work Act.

Rinehart expanding mining interests with diamonds, uranium

pstafford@smartcompany.com.au (Patrick Stafford) — Thu, 26 Jan 2012 23:42:22 +0000

Australia’s richest person, mining magnate Gina Rinehart, is reportedly looking to expand her operations by working with the former global head of Rio Tinto’s exploration business to move into mining diamonds, uranium and oil.

No compensation for businesses affected by energy company’s decision to cut power due to fire risk

jthomson@smartcompany.com.au (Myriam Robin) — Thu, 05 Jan 2012 00:56:34 +0000

South Australian electricity distributor ETSA Utilities has said it will not pay compensation to businesses that lost trade as a result of it cutting their supply on January 1.

Professional services tipped to grow, as report details decline of Sydney

mheffernan@smartcompany.com.au (Madeleine Heffernan) — Mon, 19 Dec 2011 00:48:33 +0000

Professional services are expected to grow in the year ahead, despite a report detailing the decline of professional services-rich Sydney.

Steel industry agony can’t justify protectionism: Burgess

ekrieger@smartcompany.com.au (Rob Burgess) — Mon, 22 Aug 2011 23:22:11 +0000

In the 2008 film Gran Torino, Clint Eastwood's Korean-war-hardened protagonist scornfully asks a young local priest what the hell he knows about dying. Not much, admits the priest, "but I know a lot about living".

From a $US600m deal to administration: the sad tale of AED Oil

mheffernan@smartcompany.com.au (Madeleine Heffernan) — Tue, 16 Aug 2011 01:43:59 +0000

You would have thought that an oil producer with $US600 million in cash during the middle of a resources boom would be a good bet.

Nicole Kidman's Highlands retreat given reprieve – for now – as coal company shifts exploratory holes

katesallai@yahoo.com.au (Jonathan Chancellor) — Tue, 28 Jun 2011 01:51:03 +0000

Actor Nicole Kidman has unwittingly secured a 200-metre exclusion zone between her $6.5 million Sutton Forest, Southern Highlands farming property and the nearest coal exploratory drill hole in the area.

Why Gina Rinehart is on her way to being the world's richest: Treadgold

jthomson@smartcompany.com.au (Tim Treadgold) — Wed, 22 Jun 2011 01:58:48 +0000

Gina Rinehart hates the label “Australia’s richest person”. So how will she and the rest of the country react when - not if - she ranks as the “world’s richest", as can be forecast using the latest research.

Why we’re getting hit with two oil shocks in one: Kohler

jthomson@smartcompany.com.au (Alan Kohler) — Wed, 23 Feb 2011 22:44:08 +0000

The oil price has touched $US100 a barrel and is at $US40 a barrel in real terms. The last two times that happened, in 1979 and 2007, there were immediate recessions.

Mining millionaires and Krispy Kreme investors enjoy $500 million payday with mine deal

jthomson@smartcompany.com.au (James Thomson) — Fri, 03 Dec 2010 00:56:35 +0000

Rich list members Travers Duncan, Brian Flannery and John Kinghorn are set to cash in on one of the best mining deals in some time, selling two coal deposits in New South Wales for $500 million, just a year after they secured the deposits for about $1 million.

Still no deal in bid to rescue energy giant Alinta from administration

jthomson@smartcompany.com.au (James Thomson) — Mon, 20 Sep 2010 01:46:37 +0000

Energy giant Alinta Energy remains on the brink of voluntary administration, with the company and its debt holders still trying to decide on a way to solve the company's $2.8 billion debt woes.

Billionaire Andrew Forrest’s Fortescue Metals sued by major shareholder

jthomson@smartcompany.com.au (James Thomson) — Fri, 03 Sep 2010 01:58:19 +0000

Fortescue Metals Group, the iron ore miner owned by billionaire Andrew Forrest, has hit back at legal action launched by one of its largest shareholders Leucadia National Corporation, which says Fortescue is set to breach a funding agreement between the two companies.

How one listed company lost almost half its value in just 24 hours

jthomson@smartcompany.com.au (James Thomson) — Thu, 19 Aug 2010 01:50:46 +0000

It can take years to build value in a company, but as Queensland mining company CuDeco found out yesterday, it can take just one piece of bad news and a few hours to destroy it.

Young rich list member Nathan Tinkler tipped to launch $1.5 billion float

jthomson@smartcompany.com.au (James Thomson) — Thu, 29 Jul 2010 01:37:53 +0000

Wealthy young coal baron Nathan Tinkler is set to enjoy another big pay day, with the float of his new mining company Ashton Resources.

Gillard strikes deal on Resources Super Profits Tax but company tax cuts reduced

jthomson@smartcompany.com.au (James Thomson) — Thu, 01 Jul 2010 22:27:13 +0000

The mining industry has scored a major victory in the battle with the Government over the Resources Super Profits Tax, with the Government cutting the tax on super profits from 40% to 30%.

Electricity price increases hit businesses from July 1

pstafford@smartcompany.com.au (Patrick Stafford) — Thu, 01 Jul 2010 01:22:13 +0000

Business owners and households in most states of Australia have woken up to higher electricity prices this morning, with increases as high as 13% in Queensland and parts of New South Wales.

Future of Ken Talbot's empire uncertain as Sundance Resources vows to rebuild

jthomson@smartcompany.com.au (James Thomson) — Wed, 23 Jun 2010 00:48:07 +0000

The future direction of Ken Talbot's billion dollar mining empire is in limbo following the mining magnate death in a horror plane crash in West Africa.

Plane carrying miner Ken Talbot found, no survivors

jthomson@smartcompany.com.au (James Thomson) — Mon, 21 Jun 2010 23:44:20 +0000

Australian iron ore miner Sundance Resources has confirmed that the wreckage of a plane carrying its entire board – including mining millionaire Ken Talbot – has been located in the Congo in West Africa, but there were no survivors.

Fears grow for missing miner Ken Talbot after African plane crash

jthomson@smartcompany.com.au (James Thomson) — Sun, 20 Jun 2010 23:44:06 +0000

Fears are growing for the safety of wealthy Queensland mining magnate Ken Talbot after a plane carrying the millionaire and six other mining executives crashed in the Congo region on Saturday.

Mining magnate Ken Talbot missing after African plane crash

jthomson@smartcompany.com.au (James Thomson) — Sun, 20 Jun 2010 08:31:41 +0000

Grave fears are held for the safety of wealthy Queensland mining magnate Ken Talbot after a plane he was travelling on over the Congo in West Africa was reported missing.