The Australian mining technology sector could be the saviour of global miners struggling in a depressed marketplace, an industry expert has said.
Prime Minister Kevin Rudd's plan to increase spending on infrastructure into next year in a bid to counteract the impact of the global economic crisis is a welcome first instalment on a wider national capacity-building program, Minerals Council of Australia CEO Mitchell Hooke has said.
Two Japanese steel companies have asked BHP Billiton to delay the delivery of its iron ore and coking coal, due to output cuts at the steel mills.
BHP Billiton and Rio Tinto may have to cut their contract prices for coking coal by up to 33% in 2009 due to falling demand from steelmakers, according to a recent survey.
Australian gold production is on the way up, but according to mining consultants Surbiton Associates, the results for the latest quarter are still among the lowest of the last 20 years.
Queensland Ores has suspended operations at its Wolfram Creek mine west of Mareeba, blaming the financial crisis and a downturn in metal prices.
The News South Wales government's move to increase the State's coal royalty levy by 1.2% across the board is a naked grab for cash, according to the State's coal miners.
The global slowdown has forced all mining companies to freeze recruitment until the full force of the crisis can be understood.
A row over the NSW coal royalty levy has erupted today between the NSW government, Unions and the State's miners, as the NSW government considers increasing coal royalties to 10%.
The 2008 Australian Made Conference, being held in Darling Harbour, Sydney, on November 18, is fast approaching and promises to be a day of practical, informative sessions on successful manufacturing in Australia and on the global stage.