According to a new poll, six out of 10 Australians believe the government should block a multi-billion dollar bid by Chinese mining giant Chinalco to increase its stake in Australian-owned Rio Tinto. Al Jazeera’s Aela Callan reports.
The Australian government has proposed a “super-profits” tax for giant mining corporations in its annual budget released on Tuesday. The country escaped the global economic slump almost completely unscathed, thanks largely to its massive mining industry. A proposal to impose a 40 per cent tax on “super-profits” made by mining companies has now prompted an uproar among industry players. Al Jazeera’s Harry Fawcett reports, from Kalgoorlie in Western Australia. (11 May, 2010)
Australia has been one of the beneficiaries of China’s economic growth over the last two years. Despite cooling off slightly during the global economic crisis, China’s continuing demand for raw materials has been a major boost to the Australian mining industry. China’s need for commodities such as iron ore is helping mineral-rich Western Australia lead the rest of the country to recovery. Al Jazeera’s Aella Callan reports from the small coastal town of Geraldton, where plans are under way to build a new deep water port by 2012 to keep up with the demand from China and other emerging economies in Asia.