PwC says major miners wasted the resources boom

The world's largest miners have squandered the benefits of the long resources boom, writing off the equivalent of 32% of the capital expenditure spent since 2010, according to accounting firm PwC, according to the Australian Financial Review.

An analysis of the world's 40 largest mining companies by market capitalisation revealed a collective $US199 billion of impairments were booked between 2010 and 2015, representing a staggering 31.9% of the $623 billion in capital expenditure deployed over the period.

AGL Energy keeps SA gas-fired power open to avert ‘pain’

AGL Energy has reversed a decision to mothball four ageing gas turbines at Torrens Island in a bid to maintain reliable power and stable prices in South Australia's heavily wind and solar-driven electricity market, according to the Australian Financial Review.

The decision by AGL not to shut down the four ageing gas turbines comes just a month after West Australian retailer Alinta admitted defeat in South Australia's tricky market and closed its Northern and Playford B coal-fired power stations.

BHP Billiton funds carbon capture research for Chinese steel sector

BHP Billiton will provide $US7 million of funding to help break down the barriers to the use of carbon capture and storage technology in the Chinese steel industry in a move that chief executive Andrew Mackenzie is hopeful will accelerate commercial projects, according to the Australian Financial Review.

Announcing the three-year investment in Beijing, Mackenzie described the program as “a necessary first step to get the fundamentals right” and accelerate the development and use of the technology.