Mega Uranium Ltd. CA:MGA 1.56% (“Mega”) is pleased to report the favorable outcome of the Queensland State election held on 24 March 2012 that resulted in the incumbent Labor Party government, which opposed uranium mining, being replaced by the Liberal National Party (“LNP”). The new LNP State Government has not announced its position on uranium mining, but is expected to follow the Federal LNP policy which supports uranium mine development throughout Australia. If so, there would no longer be any political impediment to the development of Mega’s Ben Lomond project and its other uranium resources in the State.
THE clawing sound from beneath George St in Brisbane is Premier Campbell Newman trying to climb out of the deep hole he dug for himself on job creation during the election campaign. (via Digging deep to honour promises | The Courier-Mail)
Source: couriermail.com.au
For, almost every country with a resource base, rich and poor, has begun tightening the screws after witnessing in the past decade one of the greatest wealth transfers in history - away from the citizens who owned the minerals and towards the companies exploiting those resources.
New research finds the mining boom is partly responsible for a decrease in international visitors, reinforcing concerns about impacts on Queensland’s tourism industry.
The full extent of the mining industry’s persuasive power over the media was revealed in an exchange between the Greens’ Senator Larissa Waters and Dr David Gruen, executive director of the Macroeconomic Group at Treasury. After years of hearing how the mining industry creates three indirect jobs for every person directly employed the Senator asked Dr Gruen whether this was indeed the case. His answer was as simple as it is heretical. According to Dr Gruen, ”In a well-functioning economy like ours, with unemployment close to its lowest sustainable rate, it is not the case that individual industries are creating jobs, they are simply re-distributing them … there really isn’t a multiplier.
THE impending carbon price has done nothing to deter investment in the coal industry, with spending on exploration surging faster than any other mineral commodity.
Coal exploration spending in Australia rose by 62 per cent last financial year as the industry dominated corporate activity in terms of inbound investment and mergers and acquisitions.
Source: smh.com.au
And here’s what Gina’s started - Alpha test mine, soon to be exporting 30 million tonnes of coal to the world
(via Twitter / @larissawaters)
Source: twitter.com
