Ginia Rinehart is probably the 2010 decade's new icon of wealth, comparable to what Christina Onassis was in the 1970s and 1980s. At age 25, Ms Rinehart is set to become the sole heir of the richest person in Australia with $10 billion to her name. However, it would not come easily because of court cases from her siblings who are locked in a legal battle with their mother, Gina Rinehart.
Yancoal Australia asked the Foreign Investment Review Board (FIRB) to either delay or lower the level of its interest in coal mining in New South Wales and Queensland.
Australian carmakers are forecasting that the industry will hit one million unit sales in 2012. However, the bulk of the sales will be small cars based on changing consumer preference.
While gold's glitter partly dimmed toward the last few months of 2011, a study released Wednesday predicted that diamond and gemstone mining will be strong industries in Australia in 2012.
It was still a banner year for the mining sector of Australia in 2011 despite claims by some groups that the boom has waned. Proof of the strength of the mining sector is that while the previous year was marked by economic contraction in many countries, construction work on new resources projects in Australia went up 31 per cent for the year.
Growth of Australia's services sector has remained subdued in December with business services posting headwinds ahead of the consumer-related services offered by local firms in December, according to the latest survery conducted by the country's Australian Industry Group and the Commonwealth Bank.
Residents and business owners in Hunter Valley reiterated its call for the New South Wales (NSW) government to ring fence the region from coal seam gas (CSG) exploration and production.
Murchison Metals (ASX: MMX), in a filing with the Australian Stock Exchange, said it will submit to shareholders the proposed sale of its interest in Crossland Resources and the Oakajee Port and Rail projects to Mitsubishi Development.
Australia's manufacturing sector churned a positive growth in December, according to the latest Australian Industry Group - PwC Australian Performance of Manufacturing Index (Australian PMI®).
A resident of Narrabri accused Australian mining firm Santos of causing the death of trees at the Pilliga State Forest due to the coal seam water that leaked from a dam operated by the company.
Australian chemical giant Orica (ASX: ORI) reopened on Tuesday its ammonia plant in Kooragang Island. The facility was shuttered in August after hexavalent chromium spilled on Hunter River and to more than 70 homes in Stockton.
Australian fishermen are blaming the ongoing dredging at Queensland Harbour for the fish kills that have affected their livelihood. The dredging of 46 million tons of sediments at Gladstone Harbour is part of the $30-billion project to expand the port to accommodate more coal-seam gas export to Asia.
OZ Minerals, in a filing with the Australian Stock Exchange, estimated the value of its copper concentrate lost in the derailment of a train in the Northern Territory last week, at $7 million to $8 million.
Moly Mines (ASX: MOL) is again postponing its $700-million molybdenum and copper mine projects at Spinifex Ridge in Western Australia. The company explained the move to falling prices of molybdenum, a key ingredient in the manufacture of steel, and the strong Australian currency.
The West Australian government invited China to be an investor in its $5.94-billion Oakajee port and rail project. The venture seeks to open up a new iron ore mine site in the state's Mid-West and make it WA's second major iron ore output behind Pilbara.
A train was derailed on Tuesday caused by floodwater brought by ex-tropical cyclone Grant. The accident involved OZ Minerals (ASX: OZL) whose $8-millon shipment of copper concentrates partly spilled into the Edith River.
Amid the spate of train accidents in Australia involving shipment of minerals, BHP Billiton (ASX: BHP) assured on Thursday that the route it would take to move toxic products from its Olympic Dam expansion is safe.
International mining company Cliffs Natural Resources bought Atlas Iron Limited's (ASX: AGO) magnetite project for $18 million.
Australian mining company Arc Exploration (ASX: ARX) temporarily suspended the operation of its gold project at Bima in the Indonesia island of Sumbawa after violence broke out on the site on Christmas Eve.
Mining giant Rio Tinto (ASX: RIO) announced on Thursday that it has extended its offer to purchase Hathor Exploration shares to 5 p.m. of Jan 6, 2012. The offer, made through an indirect wholly-owned Rio subsidiary in Canada, is for C$4.70 in cash per common share.
Australia's Lynas Mining Corp. is seen getting its rare earths facility up and running by the first quarter of 2011, according to Malaysian authorities.
The Regional Rail Link Authority of Victoria announced on Thursday the award of $1.6-billion rail contracts to three bidders. The Leighton Group, Lend Lease and UGL won the bid to build a part of the $5.3-billion Regional Rail Link project.
The Western Australian government rejected on Wednesday the application of LD Operations to run a coal mine at Osmington hear Margaret River.
Australian mining giant BHP Billiton (ASX: BHP) announced on Wednesday that it has agreed to sell its 51 per cent stake in the Chidliak diamond exploration project in Canada to Peregrine Diamonds (TSX: PGD).
From Morrison Securities Pty. Ltd.
U.S. stocks rallied as domestic home building jumped to the highest level in nearly two years and another successful Spanish debt auction buoyed investor sentiment.
Orica (ASX: ORI) seeks to end Wesfarmers' (ASX: WES) monopoly in the manufacture of explosives in Western Australia by planning to build a $700-million ammonium nitrate plant in Pilbara through a joint venture with U.S. energy firm Apache.
Woodside Petroleum (ASX: WPL) sought permission for the West Australian (WA) government to postpone its decision on the proposed and controversial $30 billion Browse liquefied natural gas (LNG) project to 2013 from mid-2012.
U.S. stocks fell Monday after European Central Bank President Mario Draghi made cautious comments on the state of Europe's economy and as bank stocks sagged in expectation of tighter capital standards.
About 4,000 litres of sulphuric acid leaked on Friday from the Foreshore Road Plant of Orica in New South Wales (NSW). It was the sixth industrial accident to hit the chemical manufacturer since its Kooragang Island plant suffered a carcinogenic chemical spill over the Newcastle suburb of Stockton in August.
Australian miners such as BHP Billiton and Rio Tinto and the country's steel industry are to be affected by the weaker metal demand in China for 2012.
