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Australian Business News

Confusion scuppers Victorian recycling efforts

August 8th, 2012

AuBJ – 8 August – Around 20 per cent of rubbish that could be recycled in Victoria is instead being sent to landfill, a study suggests. This is equivalent to 450,000 wheelie bins’ worth of recyclable items being thrown away each week. An audit conducted by Sustainability Victoria found that 99... Read More

Barrick Gold says mining tax hasn’t detracted from Australia

August 7th, 2012

AuBJ – August 7 – Canada-based Barrick Gold has said that Australia is still one of the best places for mining in the world, even after the introduction of the mining tax. The world’s largest gold miner said Australia’s political environment was more favourable towards the resources industry... Read More

Carbon tax increases only utility prices

August 6th, 2012

AuBJ – 6 August – The carbon tax has so far had no impact on consumer prices other than utility bills, according to an inflation index. In its first month of operation the carbon tax increased electricity and other household fuel prices by up to 15 per cent, in line with the treasury’s forecas... Read More

Confectioner axes 32 stores and 198 jobs

August 3rd, 2012

AuBJ – 3 August – After going into voluntary administration last month, struggling confectioner Darrell Lea has shut almost half of its stores and cut 198 jobs. The Australian chocolatier closed 32 branded stores on Thursday, including 14 in New South Wales. Mark Robinson, a PPB Advisory adminis... Read More

Drivers going green as hybrid cars sales soar

August 2nd, 2012

AuBJ – 2 August – Private sales of fuel-efficient hybrid cars increased 84 per cent in June and July sales are expected to rise again. Hybrid cars are fuelled by a combination of petrol and electricity so release less greenhouse gases into the atmosphere than traditional petrol cars. The Honda I... Read More

Manufacturing falls to three-year low

August 1st, 2012

AuBJ – 1 August – Manufacturing has slumped to its lowest in three years as a result of rising costs, weak domestic demand and an increasingly high Australian dollar, according to a July index report. Industry groups said the carbon tax will only push sector activity lower. The PricewaterhouseCo... Read More

Rio Tinto to cut jobs in Melbourne and Sydney

July 31st, 2012

AuBJ – July 31 – Metals and mining giant Rio Tinto is set to close its Sydney office and cut further jobs at its Melbourne headquarters in order to cut costs, according to two close sources. The restructuring puts the jobs of around 30 people employed in the Sydney office at risk. One source sai... Read More

Renewable energy and gas replacing coal

July 30th, 2012

AuBJ – July 30 – Energy is increasingly being generated from gas and renewable sources while coal is on the decline, according to federal opposition resource spokesman Ian Macfarlane. However the majority of power generated in Australia is still generated from burning coal. An Electricity Supply... Read More

Government withdraws funding for coal plant

July 27th, 2012

AuBJ – July 27 – The federal government has withdrawn a $101 million low-emissions grant for a brown coal plant in Victoria after it failed to meet funding conditions. The proposed Latrobe Valley power was allocated the grant in 2007 for its use of gasification technology to reduce the emissions... Read More

Atlas set to double its iron ore production

July 26th, 2012

AuBJ – July 26 – Australian mining company Atlas Iron is on track to double its iron ore production by the end of next year as it continues to invest in new mines and infrastructure. The miner shipped 1.5 million tonnes (Mt) during the quarter ending June 2012, representing a 25 per cent increas... Read More

Chevron discovers more gas at Gorgon

July 25th, 2012

AuBJ – US energy company Chevron has found yet more gas in the Gorgon area off the northwest coast, making Australia’s largest liquefied natural gas (LNG) project even bigger. Chevron vice chairman George Kirkland reported that the exploration well, called Pontus-1, contains 30 metres of net gas... Read More

Coal mining banned in Margaret River

July 24th, 2012

AuBJ – July 24 – The Western Australian government has banned all coal mining near the Margaret River wine region because the environmental risk is too high. The Environmental Protection Authority (EPA) evaluated the geology of the tourist destination and decided it posed an unacceptable environ... Read More

Geoscience sector suffers rising rates of unemployment

July 23rd, 2012

AuBJ – July 23 – Australian geoscientists are increasingly finding themselves unemployed or underemployed as a result of rising uncertainty in the resources sector, a survey suggests. Geoscientists are integral to industries including the generation of ‘greener’ energy from liquefied natural... Read More

Adani mining seeks to build town in Queensland

July 20th, 2012

AuBJ – July 20 – Adani mining, the Australian subsidiary of the India-based Adani Group, has announced its intention to build a 12,000-inhabitant town to service its Carmichael mine in central Queensland. The mining town will encourage people to live near and work at the mine, so that the mine w... Read More

Roy Hill denies financing delays for mine

July 19th, 2012

AuBJ – July 19 – Roy Hill Holdings, owned by world’s richest woman Gina Rinehart, has rubbished speculation that its $10 billion iron ore project in the Pilbara is facing financing delays. Chief executive Barry Fitzgerald told 500 potential contractors at a supplier’s briefing session that n... Read More

Wheatstone LNG project seeks local workers

July 19th, 2012

AuBJ – July 19 – US energy firm Chevron and contractor Bechtel are seeking out local workers for their Wheatstone liquefied natural gas (LNG) project in Western Australia. The companies have told the WA government they will favour Australians when hiring the 5,000 workers required for the projec... Read More