Virgin Australia, Air New Zealand join hands to locally produce aviation biofuel
Virgin Australia and Air New Zealand are working together to locally produce aviation biofuel. With this, the airlines endeavour to cut down carbon emissions and costs related to fuel.
Major Australian vanadium project, signed by NT, to create 17,000 construction jobs
A Project Facilitation Agreement, as part of a mining resource project worth $850 million, has been signed between the Northern Territory and Australian resource company TNG. Called the Mount Peake Vanadium-Titanium-Iron Project, it will include a metals processing facility that will be constructed in Alice Springs, Northern Territory.
Brisbane crowned best Australian airport, according to survey
Brisbane has been crowned the best Australian airport, as revealed in the Skytrax World Airport Awards. With this achievement, Brisbane now finds itself at the 16th position globally – moving one place up from previous year’s rankings.
South Australian Government's focus should be on renewable energy, according to Greens
The South Australian government should be concentrating on adopting renewable energy instead of gas in its attempt to bag control of the energy market, according to the Greens. This comes on the heels of the Government’s strategy to bring power prices down and introduce energy stability. To achieve this, it plans to construct and operate a 250-megawatt gas fired power plant.
Iron ore boosts higher following increase in Chinese futures
Iron ore spot markets saw an impressive run on Thursday, climbing highest in more than a month. With this, the benchmark price is over US$90 (AU$117.05) a tonne, helped largely by an escalation in Chinese futures.
Australian company granted first licence to commercially grow medicinal cannabis
The first licence to grow and harvest medicinal cannabis has been granted to an Australian company. With this, patients will be able to have easier access to domestically produced medicinal cannabis.
More job opportunities in Australian market this year: SEEK
Job advertising on employment website SEEK saw a surge in February as compared to a year earlier. New job listings, according to the SEEK Employment Report for February, grew by 8 percent corresponding to the same period of 2016.
Australia, Iran to work together on expanding renewable energy efforts
Australia will be collaborating with Iran to develop renewable energy and construct water desalination projects.
Iron ore spot markets begin slowly amid release of major economic data in China
Iron ore spot markets began slowly on Tuesday but Chinese futures continued to climb higher in overnight trade. It is not certain whether the trend witnessed concerning iron ore spot markets will persist on Wednesday.
Brisbane Airport to introduce Australia's first facial recognition technology
Brisbane Airport will be trialling the SITA Smart Path, a biometric and automated passenger screening solution. The move comes in partnership with IT firm SITA and Air New Zealand.
M&A to increase in coal, gold; bauxite can see improved activity
Coal and gold sectors could witness a rise in mergers and acquisitions this year, according to a research by Herbert Smith Freehills. The professional services firm said factors including, but not limited to, commodity prices, lower production costs and Australian dollar will be crucial in raising the levels of M&A for 2017.
Hobart City Council, Australian Workers Union in talks to equip parking inspectors with body cameras
The Hobart City Council has consulted with the Australian Workers Union and the Australian Services Union concerning rolling out body cameras for parking inspectors. Hobart general manager Nick Heath said the news comes after a trial of the technology was undertaken last year.
Iron ore prices could fall by year end amid declining commodities prices
Iron ore prices are forecast to fall back to US$50 (AU$66.14) a tonne by the end of this year, as found by research firm Capital Economics. The steel making ingredient shrunk to its lowest in a decade, US$38 (AU$50.26) a tonne, at the start of last year.
Renewable energy sources like solar, wind to receive subsidies up to 2030, research says
Renewable energy sources, like wind and solar, will be given subsidies amounting to as much as $2.8 billion a year up to 2030. The findings, which stem from a research commissioned by the Minerals Council of Australia, come as the country works towards ascertaining that it fulfils its Renewable Energy Target.
Iron ore suffers weakness on Friday, trend likely to continue Monday
Iron ore spot markets sustained another downslide on Friday. With this, they have now slumped for the fifth time in six sessions.
Great Barrier Reef suffers for second year, enters 'unchartered territory'
The Great Barrier Reef has endured another mass bleaching event this year. The findings, confirmed by the Great Barrier Reef Marine Park Authority (GBRMPA), came following aerial surveys of water between Cairns and Townsville. Video footage showed a massive stretch of white coral without any sea life.
Hundreds apply for post office jobs in Antarctica
More than 260 people have applied for a job of handling responsibilities at a post office in Antarctica. The site, situated in Port Lockroy, on Goudier Island in the Antarctic Peninsula, is administered by the United Kingdom Antarctic Heritage Trust.
BHP Billiton CFO says company tax cut can increase investment, jobs
BHP Billiton CFO Peter Beaven is pushing for a cut in company tax, which he said will lead to an increase in investment, employment and tax revenue. Beaven’s comments came during the Australian Financial Review’s Business Summit, held in Sydney on Thursday.
Australia running out of power as prices surge, prompting calls for renewable energy
Australia is slowly exhausting its power supply with prices forecast to climb higher, the energy industry has said. This comes in the midst of a study released on Thursday that renewable energy was Australia’s cheapest alternative, keeping into account the cost of storage to make intermittent power sources reliable.
Iron ore price slumps further, drops below US$87 a tonne
Iron ore spot markets experienced another plunge on Thursday. The latest development took the spot market to new one-month lows.
BHP Billiton to invest further in oil sector, forecasts demand to meet supply this year
BHP Billiton said it will be investing further in the oil market sector as prices experience a stable recovery. The mining giant believes oil demand will grow and come at par with supply this year.
Gold price sustains heavy blow, drops to lowest in a month
Gold futures declined on Wednesday, marking a slump for the seventh consecutive session. With this, the metal finished at its lowest recording since the start of February.
Mining services provider Programmed signs contract to employ 5,000 Indigenous Australians
Mining services provider Programmed is looking to employ 5,000 Indigenous Australians. The development comes as part of a 10-year plan announced in Canberra last week with Prime Minister Malcolm Turnbull and Fortescue Metals Group chairman Andrew Forrest.
Renewable energy generation levels helped reduce greenhouse gas emissions, study finds
Renewable energy generation has successfully helped in bringing down Australia’s greenhouse gas emissions, according to a new study. Emissions were recorded at 3.57 million tonnes in the three months to December.
Iron ore slips close to US$85 a tonne as inventories at Chinese ports rise
The price of iron ore is threatening to dip below US$85 (AU$112.8) a tonne. The export slipped 2.6 percent to settle at US$85.3 (AU$113.2) overnight, according to the Steel Index.
Australian shares, hurt by weak materials sector, open lower Wednesday
Australian shares experienced a downslide on Wednesday. While prices of copper and iron ore showed a regressive growth, gold prices remained steady.
Aussie dollar slumps against US counterpart, settles at 75.87 US cents
The Australian dollar has witnessed a significant downslide against its US counterpart. The development comes amid a forecast in the increase of US interest rates supporting the US currency.
Donald Trump can change global trade landscape, force Australia to choose between US and China
US President Donald Trump coming into power could change the landscape of global trade, according to Michael Every, head of financial markets Asia Pacific for Rabobank at the Australian Bureau of Agricultural and Resource Economics and Sciences (Abares) Outlook.
Early investment in renewable energy can help prevent high electricity prices, CEFC says
The Clean Energy Finance Corporation (CEFC) dismissed claims made by the Federal Government that high renewable energy targets could lead to potential blackouts. According to the organisation, "high levels of renewable penetration are technically feasible and consistent with maintaining energy security.”
Iron ore spot markets stabilise following Monday's drop below US$90 a tonne
Iron ore spot markets delivered a mixed performance on Tuesday. The spot market for 62 percent fines saw an increase of 0.08 percent to reach US$89.80 (AU$118.14) a tonne, according to Metal Bulletin. This comes in the wake of prices dropping below the US$90 (AU$118.41) a tonne mark for the first time since Feb. 10.
