China will finance Adani mine, insiders say, but it will cost Australian jobs

The Adani Group is close to securing finance for its controversial coal mine and railway project in outback Queensland, with an announcement expected in coming weeks that Chinese state-owned enterprises, banks, and export credit agencies are backing the venture. Australian taxpayers may be let off the hook under the deal, which could mean Adani no…

Chinese -owned Alinta energy bids on Vic coal power station Loy Yang B,

The future of another Australian coal-fired power station, Engie’s Loy Yang B, will be decided in the coming week. Street Talk understands Alinta Energy owner Chow Tai Fook Enterprises and Delta Electricity tabled final bids for the brown coal power station in Victoria’s LaTrobe Valley. Brookfield and China Resources were also said to have been in…

Chinese state-owned company in talks with Adani to bankroll mine

For years it has been a mystery where Adani would get the money to build its giant Carmichael coal mine in North Queensland. Now we may have the answer. The ABC has learned that a Chinese state-owned enterprise, China Machinery Engineering Corporation (CMEC), is in negotiations with Adani and its principal engineering and procurement contractor,…

Government assures China over Adani mega- mine approvals

China has officially been informed the controversial Adani coal mine in Central Queensland has received all government approvals, Federal Attorney-General George Brandis has told Senate Estimates. Senate crossbenchers have questioned officials from the Department of Foreign Affairs and Trade (DFAT) in Senate Estimates. The questions were sparked by a Freedom of Information request to DFAT…

Canberra chooses Thai-owned company as the first beneficiary of $5bn fund – Northern Australian Infrastructure fund

The first company to receive support from the federal government’s $5 billion Northern Australia Infrastructure Fund is substantially owned by Thai interests, including what appears to be the brother of the country’s former finance minister. The Australian yesterday ­revealed the private company Onslow Marine Support Base had been recommended by NAIF for an $18.6 million…

Gas exports starve local firms, jobs: ACCC

Australian factories are at risk of shutting down and sacking workers as the nation’s gas exporters starve local customers in favour of overseas clients, according to a dire warning from the competition watchdog that clears the way for a gas crackdown. The Australian Competition & Consumer Commission slammed the three gas giants in a clear…

Norwegian-based company to start drilling in Great Australian Bight 

NORWEGIAN-based energy company Statoil plans to begin drilling for oil in the Great Australian Bight by late 2018 after it took over two exploration permits from BP. The company has also moved to quell environmental concerns over potential oil spills associated with deep-sea drilling, saying it will abandon the project if it cannot drill safely….

Lithium Australia looks overseas to build Lithium processing pilot plant

An engineering design study for a large-scale pilot plant for Lithium Australia’s breakthrough Sileach Lithium processing technology has identified an overseas location with potential for substantial capital cost savings.Lithium Australia appointed CPC Project Design in December to conduct the study, which includes capital cost estimates, operating cost estimates and comparisons of logistics costs for a…

Native title amendment the final hurdle for Adani megamine

THE Adani megamine is expected to be signed and sealed within a fortnight and the first of up to 600 workers will start to fill its Townsville office next month. The company is in the final phase of its negotiations and approvals. The last stumbling block is whether Labor will support the native title amendments…

What Chinese are buying in Australia

THE Chinese continue to pour money into Australian businesses, infrastructure, resources and real estate to the tune of $15.36 billion in 2016. The figure is the highest it’s been since 2008 when Chinese direct investment reached its peak of $21.6 billion, according to a report from KPMG and the University of Sydney. Commercial real estate…