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: Australia
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.
SA pork processor announces $14 million expansion
Big River Pork is set to become one of the largest pork processors in the country following a $14 million expansion at its plant in Murray Bridge, South Australia. The expansion will create an estimated 140 new jobs and benefit local farmers, transport operators, feed suppliers, and other participants in the local pork industry.
Junk food tax and veg subsidies could add 500,000 years of life
Taxing junk food and subsidising healthier options could save Australia billions of dollars by preventing people from getting sick. A study that looked at consumer habits finds that the two-pronged approach should be more effective than one based on taxes alone.
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.
Regional Alibaba HQ creates opportunities for New Zealand exporters: minister
New Zealand Economic Development Minister Simon Bridges on Friday welcomed the opening of a new regional Chinese e-commerce base as an opportunity for exporters. Bridges said he would attend the opening of e-commerce giant Alibaba Group’s Australia and New Zealand headquarters in Melbourne, Australia, on Saturday.
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.
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.
Another Earth just 14 light years away? Maybe not, says new study
A rocky world orbiting Wolf 1061 falls within the potentially-habitable ‘Goldilocks zone.’ But a new study shows that it might be too close for comfort.
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.
Female shark learns to reproduce without males after years alone
Who needs men? A female shark separated from her long-term mate has developed the ability to have babies on her own. Leonie the zebra shark met her male partner at an aquarium in Townsville, Australia, in 1999.
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.
Not me, guv’nor
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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.
Three dead after car crash in Bucca near Bundaberg, Queensland
Basking in that Southern charm! Trump is greeted by Alabama high school girls in antebellum outfits on last stop of ‘Thank You’ tour – as he has another dig at Boeing’s $4.2bn quote for Air Force One Former Fort Worth police officer who served 21 years in prison for raping a 13-year-old girl is found not guilty in re-trial after victim admits she made it all up Henry Heimlich, inventor of the anti-choking Heimlich maneuver that saved at least 50,000 people in America alone, dies aged 96 ‘I politely declined’: David Foster denies report that he’s organizing Trump’s inauguration performances as Andrea Bocelli remains undecided Anne Frank may NOT have been betrayed: Researchers say her attic hideaway could have been found by police as they probed an illegal ration coupon ring ‘Life threatening’ arctic blast chills northern United States with temperatures dropping to minus THIRTY – as … (more)