A State Government program aimed at buying back coal seam gas exploration licences around NSW has wound up but negotiations with Metgasco to buy back its Northern Rivers exploration licences are continuing.

NSW Resources and Energy Minister Anthony Roberts announced the end of the buyback program yesterday.

Among those is Petroleum Exploration Licence 445 in the Lismore electorate, which the Government committed to buying back in this year’s election campaign. Continue reading →

The Queensland Government will consider a report from the expert panel on the inquiry into FIFO and other long distance commuting work practices in regional Queensland, which is due to be tabled in parliament on October 9.

The expert panel consisted of two businessmen in the resource industry and two Bowen Basin mayors. The findings were handed in last week saying there had been unprecedented resource activity in Queensland in the past 15 years, leading to heightened economic activity and population growth and reversing the 1990s trend of declining population. Continue reading →

An engineering firm believes a multi-million dollar expansion will ensure it can continue manufacturing despite the mining downturn.

Hedweld Engineering’s new Mount Thorley facility in the Hunter is expected to open in February 2016, and will be home to the latest robotic metal processing technology.

The company has spent $8 million, including $2 million from the Commonwealth’s manufacturing transition program. Continue reading →

Glencore has confirmed it will keep its Australian coal operations, including Hunter coal mines, under review after this week’s share price collapse.

Tuesday night, after an analyst’s view that the company’s equity value could be wiped out if commodity prices remain at current levels, saw its share price rallied by 8 per cent after a shock 30 per cent freefall. In Hong Kong, Glencore shares finished the day up 15 per cent. Continue reading →

Gladstone Ports Corporation has reached 100 million tonnes, breaking all records with total tonnage for the 2014-15 financial year, beating the 2013-14 record of 98.3 million tonnes.

Chief executive officer Craig Doyle said the start-up of LNG trains on Curtis Island and the subsequent exporting of the liquefied natural gas played a big part in the year’s result, with a total of 1.6 million tonnes shipped. Continue reading →