"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 1 day Why Are Investors Overlooking Gold Stocks?
  • 1 day The App That Democratized Trading Is Now Worth $5B
  • 1 day Super-Cycles: Why Gold Is Set For A Breakout
  • 1 day U.S. Sanctions Russia For Election Meddling And Cyberattacks
  • 2 days Snap Shares Tank Over ‘Slap Rihanna’ Campaign
  • 2 days How Low Can Bitcoin Go?
  • 2 days Amazon’s Japan HQ Raided In Anti-Monopoly Push
  • 2 days Is Barrick Gold Close To Finding A Bottom?
  • 2 days Morgan Stanley’s Top 10 Short-Term Stock Picks
  • 2 days China: The Land Of The Ultra-Rich
  • 2 days Alibaba Soars On Reports Of China Listing
  • 2 days What Killed Toys ‘R’ Us?
  • 3 days SEC And IRS Take An Aggressive Stance On Cryptocurrencies
  • 3 days Bears And Bulls Face Off In Gold Markets
  • 3 days Bitcoin Is Winning Over The Housing Market
  • 3 days Markets Slide Sideways As Trade War Fears Linger
  • 3 days Why Aren’t Millennials Investing?
  • 3 days Bitcoin And Banking: The Next Mobile Payment Revolution
  • 3 days SEC Cracks Down On Silicon Valley’s “Disruptive Tech”
  • 3 days Wyoming Eliminates All Taxation On Gold And Silver
Is Barrick Gold Close To Finding A Bottom?

Is Barrick Gold Close To Finding A Bottom?

Barrick gold has been a…

Alibaba Soars On Reports Of China Listing

Alibaba Soars On Reports Of China Listing

Chinese e-commerce giant Alibaba saw…



Information/Articles and Prices on a wide range of commodities: We have assembled a team of experienced writers to provide you with information on Crude Oil,…

More Info

Is This Top 10 Mining Destination Turning Negative For Investment?

Australia’s southern state of Victoria took a big step to support mining exploration this week. Handing out A$1.2 million in grants to support exploration and development at five projects across the region.

But in one of Australia’s most critical mining regions, things look less positive. With the local government making several moves that could render projects here more difficult.

Queensland’s minister of environment and heritage protection Steven Miles unveiled a series of mining regulatory reforms early this week — speaking during a visit to Rio Tinto coal mining operations in the state.

Here’s what’s going to change.

For one, Minister Miles is proposing to speed up the timeline for mine rehabilitation across Queensland. Saying that new rules will require miners to begin reclaiming ground as it becomes available during operations — as opposed to common practice, where rehabilitation begins toward the end of the mine life.

The minister also said that ongoing rehabilitation performance would be audited and publicly reported.

Those are big shifts. And such moves by the Queensland government appear to be having a direct effect on project activity — with one major project pulling the plug this week. Namely, a proposed $12 billion coal mining development by India’s Adani group.

Adani told CNN on Tuesday that the company has delayed a final investment decision on the coal mega-mine. With company officials saying the decision is due to the Queensland government failing to guarantee tax breaks for the operation.

Such tax treatment has reportedly been a contentious issue within the government. But the outcome suggests a harder line against industry has prevailed — which may mean a tougher investment climate going forward. Watch for further policy announcements from the government, and for ensuing project decisions from miners.

Here’s to staying on top.

By Dave Forest

Back to homepage

Leave a comment

Leave a comment

Sign Up For The Safehaven Newsletter