Tinkler's $150M Wilkie Creek comeback deal gets the wobbles

A $150 million agreement to buy the Wilkie Creek coal mine in Queensland from Peabody Energy was billed as Nathan Tinkler's comeback deal, according to the Sydney Morning Herald.

But it seems cracks are appearing in the funding package Tinkler has pulled together that could delay or even derail the transaction.

Sources familiar with the proposed purchase – which surprised the Australian mining industry when it was announced in mid-May – said Tinkler had not satisfied contractual conditions imposed by his key backers.

Farmers may profit from gas

Senior federal government ministers said the states and industry should give farmers a cut of profits from gas drilling, a move that could change 200 years of landowners not having rights over underground resources, according to the Australian Financial Review.

Industry Minister Ian Macfarlane said if the states offered a generous share of gas royalties to farmers, they might be able to break the impasse that has frozen access to huge gas reserves, mostly in NSW and Victoria.

Macfarlane cited Roma farmer Peter Thompson who agreed to exploration and production on his property for $6 million.

Mongolia tax row may delay Rio mine

A hotly contested tax dispute between Rio Tinto and the Mongolian government threatens to further delay a $US5.1 billion ($A5.4 billion) underground expansion of the Oyu Tolgoi copper-gold mine, according to The Australian.