The commodities industry downturn from 2013-2016 had a massive effect on companies in Australia and around the globe – with most mining companies going into survival mode. Since mid-2016 though, the market has been in a strong recovery cycle and, some say, it has now reached its peak.
Queensland Mining News
The writedowns are said to stem from Adani being forced to duplicate studies and redesign elements of the Carmichael project due to delays in regulatory approvals and ongoing legal challenges.
A funding proposal for a rail line that could carry its coal to the coast for export has been canned.
The Queensland Government is getting behind a pilot program that, together with an industry group, is hoping to bring thousands of mining equipment and services positions to the Bowen Basin within the next decade.
Despite opposition from organizations ranging from the United Nations to green groups and locals, work on the multibillion-dollar mine is expected to begin by September.
The lenders’ move follow a decision by Australia’s second-largest bank Westpac to only fund new projects in existing, rather than new, coal basins as part of its new climate policy.
Work on the delayed mine to start shortly after the federal government grants it final approval, which is expected before the end of May.
A 3.4% increase in the December quarter seems to indicate that the downward trend of the past five years has been finally reversed.
Coal has washed up very close to the UNESCO World Heritage Site, Australian authorities said, following an investigation into complaints of black dust on nearby beaches.
As Adani’s Carmichael project continues to gain momentum with the confirmation of construction commencing in 2017, community and industry groups have launched a support campaign on social media.
A federal court dismissed challenge from a traditional owner to mining permits for the mine.
Queensland has released a final report into the re-emergence of coal worker pneumoconiosis, which confirms that a health screening system thought to protect underground coal workers has failed.
A green group asked the Supreme Court in Queensland to review the environmental approval of the controversial coal mine and rail project.
While Queensland's miners axed 22,000 positions between 2013 and 2015, health and community services created new jobs for almost double that number.
Australia’s indigenous people Wangan and Jagalingou, traditional owners of the land proposed to host the project are challenging it in court.
If built, Carmichael would be Australia's largest coal mine.
Total area drilled (in metres) climbed by 6.9% during the December quarter, with activity in areas of new deposits increasing by 29.6%.
He said he would open up after a creditors meeting next week in Townsville, where his his Queensland Nickel company is based.
The expansion work will require dredging 1.1 million cubic meters of seabed near the Great Barrier Reef Marine Park.
With the ruling, the massive Carmichael coal mine and rail project has moved one step closer to final approval.
The company wants an "indisputable and final" go-ahead for Carmichael, considered Australia’s largest thermal coal project ever.
Mining investment in Australia is forecast to fall a further 58% the next three years.
The Amrun mine is expected to open in 2019 and initially produce 22.8 million metric tons of bauxite a yera.
The company said that extending Kestrel, its only underground coal operation, would add 20 years to the mine’s life.
The country's government has given its final, yet conditional, approval for one of the world's biggest coal mines.