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WA to review budget
The iron ore price plunge (last trading at $US78.40 per tonne) has forced West Australian Treasurer Mike Nahan to signal a budget review.
According to The Australian, Hahan has said the government’s bullish iron ore forecasts are threatening a budget deficit this year.
A state treasury review in May had tipped that the commodity would average $123/t throughout 2014-15.
First impact in BMA cuts
BHP Billiton Mitsubishi Alliance’s recent decision to axe 700 jobs across its Queensland coal operations was first realised at the Blackwater mine in the state’s Central Highlands region.
The Rockhampton Morning Bulletin reported that some workers had already been given the bad news at the mine by yesterday afternoon.
The number of workers affected at the operation is not yet known.
Havilah acquisition
Explorer Havilah Resources has applied to buy a 50,000ha property prospective for copper-gold northwest of Broken Hill, New South Wales, according to ABC Online.
The company also confirmed it could expand into livestock production.
"We may run sheep on it or allow our neighbours to use the paddocks. We haven't made a decision on that yet," Havilah managing director Chris Giles was quoted as saying.
