CFMEU demands BMA decision on Norwich

The Construction, Forestry, Mining and Energy Union has written to Queensland Premier Campbell Newman demanding BHP Billiton Mitsubishi Alliance forfeit the Norwich Park mine lease, according to reports from the ABC.

The unions reportedly claim that the mine is viable, contrary to what BMA have stated.

CFMEU believed the mine was being “mothballed” ahead of switching to a contract labour force, the ABC reported.

CFMEU district president Stephen Smyth said it was time BMA made some concrete decisions on the embattled mine.

“If they don't want to use the resources that are there, the proven coal reserves, then they should be giving it to someone else that does and who will provide employment for our members and investment into the future,” Smyth was quoted as saying.

Smyth said BMA's claim the mine was unprofitable and unusable was “garbage”

BHP has Olympic hurdles to overcome

The Australian Financial Review has reported this morning that South Australian Natural Resources Minister Tom Koutsantonis said he was not inclined to grant BHP Billiton an extension on approvals expiring in December that cover the $US20 billion ($A19.3 billion) expansion of the Olympic Dam mine.

“They’d need a ministerial exemption to continue those approvals,” he reportedly told ABC Radio.

“Thus far I’ve seen nothing that would incline me to grant an extension.”

The news comes amid reports that the miner may consider pausing or slowing the massive project due to cost pressures, the carbon tax and a weaker outlook for commodities.

Go-ahead for $5bn coal giant

Following shareholder approval for the $A5.1 billion Whitehaven Coal-Aston Resources merger yesterday, The Australian reports that Aston founder and major shareholder Nathan Tinkler could sell down part of his $1 billion stake in the merged entity within weeks.

Aston was a no-show at the meeting in Brisbane yesterday and it is thought he will reduce his 20% stake to fund other business interests.