The News in Focus – Weekly Wrap [VIDEO]

Wednesday saw the beginning of a senate inquiry into corporate tax avoidance which will hear evidence from Rio Tinto and BHP about their business activities relating to profit transfers through offshore tax havens like Singapore.

Woodside Petroleum have announced a new gas well discovered off the north west coast of WA located 15 kilometres north of Pluto project infrastructure.

And Atlas Iron have entered a trading halt over the Easter break, with share prices closing at 12 cents.

The miner said the voluntary suspension was related to the rapid fall in the price of iron ore, and was pending the outcome of an extensive review of company operations, to be announced in the next fortnight.

Iron ore dropped to a record low of 46 US dollars and 70 cents per tonne on Tuesday, however the price made a small recovery late in the week, picking up the hopes of junior miners.

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