Coal has ‘rosy’ future

International Energy Agency chief economist Fatih Birol says Australian coal producers definitely have a rosy future once they get over current pricing and cost woes, according to the Australian Financial Review.

Newcastle coal terminal gets green light

The NSW Department of Planning has recommended approval of a fourth coal export terminal in Newcastle.

A leaked internal report shows the department approves the project subject to conditions being applied to prevent or minimise any adverse environmental impacts, and on the coal terminal being monitored in the future.

The Hunter Community Environment Centre has criticised the department's approval of the Port Waratah Coal Services proposal because it precedes any public hearings and community consultations on the issue.

Local ownership of gold mines at a decade high

The culling by international gold majors of their Australian portfolios in response to gold's dramatic price fall last year has driven local ownership of the gold industry to more than 40%, its highest level in a decade, according to The Australian.

According to an industry consultant, Melbourne-based Surbiton Associates, overseas control of the gold industry is running at just below 60%.