The world’s biggest iron ore miners will be able to withstand the expected plunge in prices because their race to cut production costs has dramatically lowered the industry’s margin pressure point, allowing them to keep fueling a cash juggernaut that’s revived the mining sector. More than 90 percent of producers in the global seaborne market can generate profits at a benchmark price of $60 a metric ton, Adrian Doyle, a Sydney-based senior consultant at researcher CRU Group, said by phone.
Category: Oceania
Satellite start-up promises ultra-fast internet to remote Asia-Pacific, NZ locations
The Pacific Islands, remote parts of rural New Zealand and poor but populous parts of eastern Indonesia and Papua New Guinea are target markets for a new satellite-based project that its backers say will bring low-cost, ultra-fast broadband to areas that are too expensive to reach by cable. The brainchild of Christian Patouraux, a Belgian-born, Sydney-based entrepreneur with a 22-year career in satellite projects, the Kacific Broadband Satellites initiative owes part of its success to the equity funding efforts of boutique Wellington investment and advisory firm, Caniwi Capital, which has helped raise more than US$20 million in equity for the US$147 million project.
Ultra-fast internet promised to remote locations
The Pacific Islands, remote parts of rural New Zealand and poor but populous parts of eastern Indonesia and Papua New Guinea are target markets for a new satellite-based project that its backers say will bring low-cost, ultra-fast broadband to areas that are too expensive to reach by cable. The brainchild of Christian Patouraux, a Belgian-born, Sydney-based entrepreneur with a 22-year career in satellite projects, the Kacific Broadband Satellites initiative owes part of its success to the equity funding efforts of boutique Wellington investment and advisory firm, Caniwi Capital, which has helped raise more than US$20 million in equity for the US$147 million project.
Virgin Australia, IAG chairman predicts robots will take our jobs, and our hearts
Virgin Australia and IAG chairman, Elizabeth Bryan , shared the unexpected pleasure she got from her summer reading list with the mob that attended Thursday’s AICD Governance Summit in Melbourne. ASIC chairman Greg Medcraft tells the Economics Legislation Committee bank culture is still an issue that needs to be addressed.
AVALON: Boeing’s Australian innovations see light of day
Collaborative robotics, virtual reality and aircraft cabin disease transmission prevention are among the latest projects under way at Boeing Research and Technology-Australia – the manufacturer’s largest research organisation outside of the United States. Boeing’s Australian research organisation – based in Melbourne and Brisbane – has been at the forefront of numerous pioneering developments that have been rolled out by the aerospace giant.
Boss delivers dire warning about Amazon
Gerry Harvey said Amazon was “not a good corporate citizen” and if Australia had a choice, it should stop the retailer coming in, “like Donald Trump not letting the Muslims in”. Photo / 123rf Harvey Norman boss Gerry Harvey has slammed Amazon as a “parasite” that “contributes virtually nothing to society”, saying Australia should enact a Donald Trump-style ban on the e-commerce giant.
NASA’s Balloon Program Returns to Wanaka, New Zealand
For a third consecutive year, NASA is returning to Wanaka, New Zealand, to launch a long-duration, heavy-lift super pressure balloon into one of the most dynamic and severe flight regimes inside the Earth’s atmosphere. After launch, planned for the late March/early April timeframe, the 18.8-million-cubic-foot SPB will ascend to an altitude of 110,000 feet where the stratospheric winds will propel it at speeds up to and exceeding 100 knots through the heating and cooling of the day-night cycle on a weeks-long journey around the southern hemisphere.
NASA confirms 10-year arrangement for super balloon launches
Wanaka Airport Operations Manager Ralph Fegan today welcomed the news that NASA will return to Wanaka in 2017 for its third super pressure balloon launch, scheduled for late March/early April, and will be further committing to the site as one of its global launch bases for up to 10 years. “We’re delighted that NASA has confirmed a 10-year arrangement to continue launches in Wanaka,” said Ralph.
Barrick Sale of Super Pit Stake to China Buyer Said to Stall
Barrick Gold Corp.’s plan to sell its stake in the Kalgoorlie Super Pit mine to a Chinese bidder has stalled, as the buyer faces delays securing financing for the $1.3 billion deal, people with knowledge of the matter said. Minjar Gold Pty, a unit of property developer Shandong Tyan Home Co., is also still seeking Chinese regulatory clearance for the purchase, according to the people.
Trump Twitter Bursts Throw Decades-Old Alliances Into Disarray
“When you hear about the tough phone calls I have, don’t worry about it,” Trump said to an audience of religious and political leaders at the National Prayer Breakfast, a yearly event in Washington. “The world is in trouble — but we’re going to straighten it out, ok? That’s what I do.”
SkyMuster not a suitable rural alternative to landlines
Better Internet for Rural Regional and Remote Australia founder, Kristy Sparrow, has spoken out against any move for telephone services to be delivered to remote users via Voice over Internet Protocols on the SkyMuster satellite service. Last week Kalgoorlie in Western Australia had rain.
NZ scientist discovers huge undersea eruption
The vast plume measures 30km long and 20km wide, not far from a newly-formed island and just 33km off the coast of Tonga’s main island Tongatapu . Photo / Nasa A Kiwi scientist has unexpectedly discovered what appears to be a huge undersea volcanic eruption near the main island of Tonga.
Big telcos may take wi-fi away from rural families: provider
A small internet provider helping to end the data drought in regional southern Queensland says it could soon be outbid by larger internet companies on digital spectrum access, thanks to a review by the Australian Communications and Media Authority . Toowoomba-based company Red WiFi has been using elevated positions on silos, water tanks and sheds to install dishes that stream wireless internet across rural communities, offering unlimited data to hundreds of families.
Amazon launches Aussie jobs bonanza
Amazon is setting up shop Down Under, with local warehouses set to open in September, allowing customers to get items delivered in lightening speed. The company is officially on a hiring spree, with more than 100 roles advertised in IT, marketing, sales and HR – and that’s just the beginning.
Construction of powerful ASKAP telescope on ‘home stretch’
Construction of the Australian Square Kilometre Array Pathfinder telescope is on the “home straight” with the project expected be fully operational within 12 months. Located in the heart of the Murchison, about 350 kilometres northeast of Geraldton, the telescope is made up of 36 identical 12-metre wide dish antennas, with a third of them currently operational.
Billionaire Li Ka-Shing Sweetens Duet Offer to $5.5 Billion
Billionaire Li Ka-shing agreed to buy Duet Group in a A$7.4 billion deal, sweetening an earlier offer, as the Hong Kong tycoon seeks to expand his infrastructure assets in Australia to diversify away from Europe. In the revised bid, endorsed by Duet, investors will receive A$3.03 for each share in the energy company after including a newly announced special dividend of 3 cents a share, according to statements from the companies.
The Australian Square Kilometre Array Pathfinder finally hits the big-data highway
ASKAP is made of 36 identical 12-metre wide dish antennas that all work together, 12 of which are currently in operation You know how long it takes to pack the car to go on holidays. But there’s a moment when you’re all in, everyone has their seatbelt on, you pull out of the drive and you’re off.
More than 80 Kiwi kids abducted each year
More than 80 children were abducted or kidnapped in the first nine months of 2016, and those most at risk were in their late teens. It is not known how many of the incidents are related to domestic disputes but experts say abductions by strangers are rare and “stranger danger” advice is outdated.
Te Manawa keeping the kids busy during the summer
Dinosaurs are set to remain all the rage at Te Manawa over the summer, with programmes designed to teach children about the extinct creatures taking place during the holidays. Children spent Friday in the museum’s courtyard playing with a snow machine, bringing a bit of white Christmas to sunny Palmerston North.
Australia police: Christmas Day bomb plot foiled, 5 detained
Police in Australia have detained five men suspected of planning a series of Christmas Day bomb attacks in the heart of the country’s second-largest city, officials said Friday. The suspects had been inspired by the Islamic State group and planned attacks on Melbourne’s Flinders Street train station, neighboring Federation Square and St. Paul’s Cathedral, Victoria state Police Chief Commissioner Graham Ashton said.