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…

Chinese investment is at the highest levels since the GFC.

Chinese investment in Australia has reached the highest level since the global financial crisis (GFC), up 12 per cent from 2015 to $15.4 billion last year. A new report from Sydney University and accounting firm KPMG found a record 103 deals were signed between Chinese and Australian companies in 2016. But the annual report, Demystifying…

FIRB approve $4b sale Alinta energy to Chinese

Ownership of Alinta Energy will switch to Chinese interests by the end of the month after the gas retailer’s $4 billion sale to a conglomerate better known for its jewellery stores and hotels won the all-clear from the Foreign Investment Review Board. Days after it gave the nod to Hong Kong billionaire Li Ka-shing’s $7.4…

Malcolm Turnbull tells Adani native title issues will be ‘fixed’

Prime Minister Malcolm Turnbull has assured senior executives from Adani that native title issues threatening the Indian multinational’s proposed $21 billion Carmichael coal mine in Queensland’s Galilee Basin will be fixed.In a private meeting in New Delhi overnight Tuesday between the Prime Minister, Gautam Adani and his top executives, Mr Adani expressed concern at a…

Adani mine granted unlimited water access 

The proposed Adani coal mine has been granted unlimited access to groundwater by the Queensland government in a move farmers fear would allow it to drain huge amounts of water from the Great Artesian Basin. According to a copy of Adani’s water licence obtained by Fairfax Media, the $16 billion Carmichael mine merely needs to…

Adani mine granted unlimited water: to impact Great Artesian Basin 

The proposed Adani coal mine has been granted unlimited access to groundwater by the Queensland government in a move farmers fear would allow it to drain huge amounts of water from the Great Artesian Basin. According to a copy of Adani’s water licence obtained by Fairfax Media, the $16 billion Carmichael mine merely needs to…