In January 2015 iron ore exports totalled 37 million tonnes, a 30 per cent increase on the 28.5 million tonnes shipped in January 2014.
These results are no surprise, with major miners BHP, Rio Tinto, and FMG all reporting record shipping rates, however the ongoing increases to production are blamed for the plummeting price of iron ore, now down to US$61.40 per tonne, the lowest price seen since 2009.
The Australian Tax Office is working towards a plan which will see companies with a turnover of more than 100 million per year allowed to do their own tax auditing.
With cutbacks of 3000 staff at the ATO thanks to the Abbott government, and another 1700 to go by 2018, ATO commissioner Chris Jordan has defended the so-called “external compliance assurance process” as a cost saving measure.
The Queensland Labor Party has now stepped out against 100 per cent FIFO site policies in all forms, including existing operations such as BHP Mitsubishi Alliance’s Daunia and Caval Ridge coal operations.
BMA announced the opening of Queensland’s Norwich Park coal mine last week, which has been rumoured to be staffed only with workers from Adelaide and Melbourne.