NSW sends mixed signals on mining: Yancoal

The chief executive of Chinese-owned miner Yancoal, Murray Bailey, has accused the NSW government of sending “mixed messages” about whether it wants growth in the state’s coal industry as his company aims to double production over the next four years, the Australian Financial Review reports.

“Clearly the NSW government wants to stimulate the economy and we have [Resources and Energy Minister Chris] Hartcher and Co saying we really want to get more revenue out of the resources sector,” Bailey said at an RBS Morgans conference in Sydney.

“On the flipside, in terms of infrastructure, we can’t even get meetings with [Infrastructure Minister] Brad Hazzard. He’s gone to ground.”

Yancoal, set to list on the local market this month following a merger with Gloucester Coal, has faced more than two years of delays in its attempts to build a new open cut mine at its Ashton complex in the Hunter Valley to replace one that ran out in 2010.

“We’ve been frustrated both by the change of government in NSW and the planning assessment commission rejection in December last year,” Bailey said.

Foreigners employed in most sectors

Mining is the not the only industry employing migrant workers. A survey shows more than half of Australian businesses hire foreigners, the Australian Financial Review reports.

The annual Australian Institute of Management salary report showed 51.3% of 511 companies surveyed already employed migrants, up from 42% only two years ago.

In all, 70.2% of companies would consider recruiting overseas to meet skills shortages, up from 62%, AIM NSW head of research Matt Drinan said.

“Mining companies comprise a relatively small proportion of employers and our data indicates that the effect of the skills shortage is being felt across a broad range of industry sectors,” he said.

“There are problems across the board and there has been an increase in companies looking overseas for staff.”

While Gina Rinehart’s use of an enterprise migration agreement to bring in migrant workers caused a stir in the trade union movement, other sectors – including surprising ones, such as manufacturing – are also hiring offshore.

Business leaders reject Gillard company tax plan

Business leaders have rejected a plan put by Prime Minister Julia Gillard to the government's economic forum to restore the government's proposed cut in company tax rates – but this time pay for it by raising other taxes on business, the Sydney Morning Herald reports.

At the forum's closing session, Gillard said the government would direct its business tax working group to give priority to working out how a cut in company tax rates could be paid for by cutting corporate tax breaks or finding other ways to raise revenue from business.

The decision comes just a month after the government scrapped its plan to cut company tax from 30% to 29% after the opposition refused to support it and the Greens insisted the tax be cut only for small business.

''We've heard you loud and clear on the company tax rate,'' she said. ''We see it as the priority for the next step in tax reform.

''We're in the cart for a lower company tax rate but it has to be affordable. And that means it has to be funded by other changes in the business tax system.''