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The Australia Institute’s Research Director Rod Campbell gave expert economic evidence to Victoria’s Inquiry and Advisory Committee regarding the Fingerboards Mineral Sands Project. The project was recommended for rejection by the Committee. Rod was engaged by the community group opposing the development, Mine Free Glenaladale. Rod’s evidence showed that the economic assessment of the Fingerboards
The Australia Institute made a submission to the “Rapid Assessment Framework” consultation, a process to reform parts of the NSW planning process.
A new study on the proposed Mulga Rock uranium mine in Western Australia relies on optimistic price and exchange rate forecasts. Details of claimed cost reductions have not been published, but costs still appear high relative to international competitors.
The proposed Mulga Rock uranium mine is unlikely to be in the WA community interest. Aside from the environmental risks inherent in uranium mining, the feasibility study for the proposal uses improbable market scenarios and does not illustrate a credible range of project outcomes.
Documents obtained by the Australia Institute shows that mining is experiencing a crisis in public trust among Queenslanders, with coal mining particularly unfavourable. The Queensland Resources Council (QRC) commissioned polling company Ipsos to conduct this research on the industry’s reputation because it has observed a “decline in positive (public) sentiment” about the QLD resource sector, and can
Lock the Gate asked The Australia Institute for assistance in estimating the potential employment impacts of increased mine rehabilitation in Queensland. This relates to the Mineral and Energy Resources (Financial Provisioning) Bill currently before the Queensland Parliament. Lock the Gate hope this bill, if passed and implemented, will reduce the mine rehabilitation ‘deficit’ in Queensland:
The Minerals Council of Australia featured in 1,594 Australian news stories in the last year mentioning coal. This was three times more than iron ore, far more than any other mineral. Yet only 16 of the MCA’s 45 members mine coal at all. Just 3 are entirely focused on thermal coal. The biggest members, BHP
The McArthur River zinc-lead mine in the Northern Territory imposes significant environmental costs on the local community. Claims that it could produce government revenue of over $1.5 billion are based on flawed economic modelling that estimates tax revenues over a 1,000 year period.
Political donations in Australia are difficult to monitor as many go unreported. Only donations over $13,000 are disclosed to the Australian Electoral Commission. The majority of donations are likely to be under this disclosure threshold or hidden through other means, such as through associated entities or party fundraising events. Despite these shortcomings, the disclosures that
Australia’s mining industry is 86% foreign owned and has spent over $541 million in the last ten years on lobbying Australian governments through its peak lobby groups, which are dominated by foreign interests. Spending on lobbying by individual mining companies is not public information, but would bring this number up significantly. This report finds that:
What we do and don’t know about mines, closures and rehabilitation in Victoria. Little data is available to the public on the clean-up from the mining boom. State government agencies often lack basic information on how many mines are in operation, with still less published on closures and abandonments.
State governments are universally supportive of resource development. They provide considerable financial support to the sector, yet receive relatively little in return. We are unaware of any example of states using the HFE system to argue against resource development.
The Jubilee Australia Research Centre and The Australia Institute welcome the opportunity to make a submission on the Export Finance and Insurance Corporation Amendment (Support for Commonwealth Entities) Bill 2016. The primary purpose of Efic under the original Export Finance and Insurance Corporation Act 1991 is to “assist the development of Australian export trade.” Efic
As the mining boom winds down and the mining clean up boom begins, mine site rehabilitation and mine abandonment are emerging as major issues for Australian communities, governments and taxpayers. All stakeholders will need information on the status of mines and their rehabilitation efforts to ensure this is carried out in a way that does
Report on what we do and don’t know about mines, closures and rehabilitation in New South Wales. Little data is available to the public on the clean-up from the mining boom. State government agencies often lack basic information on how many mines are in operation, with still less published on closures and abandonments.
The Australia Institute has assessed the proposal for a $5 levy on iron ore in Western Australia. The policy should be supported as a pragmatic alternative to a resource rent tax. The analysis finds that if the $5 levy had been imposed on relevant production over the last five years it would have raised $11.5
As the size of the clean up after the mining boom becomes apparent, mine site rehabilitation is becoming an important topic for many communities, regions and governments in Australia. A recent report on mine voids found that 6,050ha of voids will be left behind in NSW, most of which will fill with saline water, an
North Stradbroke Island (NSI) has no “economy” of its own. Most of its residents don’t work at all, mostly by choice. Its houses are mostly owned and used by people who live and work on the mainland and come to the island for holidays and relaxation. On NSI, goods and services are sourced from the
In 2015 the federal government gave $4b in subsidies to the mining and fossil fuel industry, in the previous six years the Australian government has spent $17.6b in support for these industries. Over 75% of the people agree that fossil fuel subsidies should be redirected to essential services.
Details from a forthcoming Australia Institute Report Since the EPBC Act commenced in July 2000, there have been approximately 5500 projects referred to the Minister under the environmental impact assessment provisions. Of the 5500 referred, around 1500 have been assessed as requiring formal assessment and approval. 12 projects have been refused approval. 9 projects have
Queensland spends less on social services than the rest of Australia in per capita terms, despite being a large state with a growing population. In the major areas of health and education, Queensland spends less per person than any other state except NSW and Victoria – both of which benefit from large populations in relatively
State governments are more usually associated with the provision of health, education and law enforcement than industry assistance. So it might surprise taxpayers to learn that state government assistance for the mineral and fossil fuel industries consumes significant amounts of their money. Each state provides millions of dollars’ worth of assistance to mining industries every
Since the beginning of the mining boom Australia’s rural sector has lost $61.5 billion in export income. This includes $18.9 billion in 2011-12 alone. These losses have occurred because the mining boom has forced the Australian dollar to historic highs. The damage the mining boom is doing to other sectors has created what has been
The Western Australian government together with Woodside proposes to build the Browse LNG precinct on James Price Point in the Kimberley region of Western Australia (WA). The evidence to support the state government’s claim that the precinct will deliver economic benefits is virtually non-existent. Indeed, a close reading of the scant evidence that is available
The mining industry is receiving substantial assistance from Australian taxpayers worth more than $4 billion per year in subsidies and concessions from the Federal Government alone. Amazingly, this is at a time when the industry is earning record profits. Significantly, these subsidies and tax concessions do not even include the cost of providing the mining
The Australian mining boom has been driven by rapidly rising world commodity prices. Put simply, the world is now willing to pay much higher prices for our coal, iron ore, gold and other resources than they were 10 years ago. For example, gold prices have risen from about 400 $US/ounce in 2004 to about 1600
On the back of record high commodity prices the mining industry in Australia is experiencing an unprecedented period of expansion. The value of our mineral exports has increased to the point where they now make up more than half of the value of all our exports. This increase combined with the huge inflow of capital
“The future is in our hands, and it will be defined by the way we handle the current minerals boom. Get it wrong, and we falter. Get it right, and we set the nation up for decades to come.” Prime Minister, the Hon. Julia Gillard The Australian economy, like all modern economies, is diverse and
The recent debate about productivity trends in Australia has revolved around the reported decline in labour productivity growth. For example, the new Secretary of the Treasury, Dr Martin Parkinson recently stated: “Australia’s productivity growth, measured in terms of both labour productivity and multifactor productivity, has slowed, and there is little reason to believe it will