Union action stalls one in five mining projects

One in five new resources projects are stalling because unions are refusing to strike workplace agreements or putting pressure on companies to accept exorbitant wage claims, potentially damaging investor confidence in the $500 billion pipeline of projects, The Australian reports.

Research to be released today by the Australian Mines and Metals Association has found a significant deterioration in the nation's workplace relations climate, with an almost fivefold increase in the number of mining employers who consider that the industrial environment is unacceptable.

The survey found that it is taking longer to strike greenfield agreements than other workplace deals in 40% of cases.

Carbon tax hostility at record high

Public opposition to the federal government’s carbon scheme hit a record high on the eve of its introduction, despite the payment of billions of dollars of household assistance and bonuses to parents of schoolchildren, according to the Australian Financial Review.

A poll shows Labor’s primary vote has barely moved in the last month – up 2 percentage points to 28%, within the margin of error.

Support for putting a price on carbon also fell four points to a record low of 33%, and opposition rose three points to 62% – its highest level yet. The poll found that 40% strongly oppose the tax, while just 10% strongly support it.

China shows growing sensitivity to slowing economy

China’s weakest manufacturing growth this year was due to “seasonal factors”, according to The China Federation of Logistics and Purchasing, the Australian Financial Review reports.

The body that publishes the country’s official Purchasing Managers’ Index went on to say the decline was “minimal” and pointed out that the reading of 50.2 meant factory output was still expanding.

The seasonal argument is true, but the strength with which it was made shows Beijing is sensitive about the slowing economy.

This is understandable as the economy is all the Communist Party has left to justify its monopoly on power.

Industry slams 'top-up' minerals tax

The nation's peak mining body grudgingly acknowledged the introduction of the mining tax yesterday, labelling it a workable but excessive revenue-raising exercise, The Australian reports.

Miners are preparing for the first payments of the tax, which the government expects to receive in three months.

The Minerals Resource Rent Tax, in various forms, has taken more than two years to be implemented.

An earlier version was blamed for contributing to the downfall of Kevin Rudd as prime minister.

Minerals Council of Australia chief executive Mitch Hooke said yesterday that while the new mining tax was "workable", its stated objective of spreading mineral wealth to all Australians was not genuine because it was a "top-up tax", adding to the existing company tax and royalties regime.