Tag: mining
-
Rio Tinto destroys important 46,000 year old Indigenous site
The Juukan rock cave site in Western Australia’s Pilbara region was among the oldest in Australia and held material evidence of continuous human habitation stretching back 46,000 years. In a 2014 report, Archaeologist Dr Michael Slack identified at least one of the Juukan caves contained “a cultural sequence spanning over 40,000 years, with a high frequency…
-
Iron ore price drop would leave Australian miners at risk
Small-scale junior iron ore miners in Australia could face serious damage to their portfolios if prices drop in the near future. In a market that is known to be highly cyclical, a recent downturn in iron ore prices after a quarter of sustained growth is a cause for concern to the smaller mining operations, such…
-
Australian trade surplus falls by two-thirds
Australia’s trade surplus has fallen to $1.3bn for January 2017, a drop of almost two-thirds from December 2016’s significant $3.3bn surplus. This surprising decline defied the expectations of many market experts, who had predicted further growth in the surplus following the record-breaking surplus recorded for December 2016. However, economists have been quick to address the situation, stating…
-
Australia’s ‘boganaire’ now bankrupt
Australia’s youngest billionaire, or better known as ‘boganaire’ has officially declared bankruptcy. Just five years ago, he earned the billionaire title at 35 years of age. Nathan Tinkler started out as a mining apprentice in the Hunter Valley, NSW and as a 26 year old he set up his own business. You can’t help but snigger…