Mining multinational Xstrata refused to cooperate with Treasury over complaints that it engaged in anti-competitive behaviour. The reason? “Xenophobia”.
Xstrata
‘Selling off the farm’ isn’t the problem for the mining industry
“Selling off the farm” is no longer a metaphor, with a rising tide of complaints about foreign ownership of agricultural land. But the real problem is how multinational companies exploits tax laws.
Glencore and the cautionary tale of Zambia
While a transnational company was ripping off Zambia, the mining industry here was claiming it was a model for Australia.
Revisiting the unaccountable Australian corporate landscape
Many of the leading directors who signed off on some of the decade’s worst deals still remarkably remain leading corporate figures.
Australia’s affluenza built on a house of sand
Australia’s economic miracle and recent bout of affluenza is built on a house of sand. Local debt and what appears to be an unsustainable boom in its biggest customer.
The mining stoush: it ain’t over yet
The deal Julia Gillard cut last year with the big three mining companies - BHP, Rio Tinto and Xstrata - is reportedly under threat of unraveling, with the PM and the three companies embroiled in a dispute about whether refund royalties should apply retrospectively.
New tax a win for common sense and for the PM
While the opposition looks set to oppose the MRRT, Julia Gillard has come up with what appears to be a very well-designed compromise in a remarkably short time.
2010 election: Labor’s challenge bigger than just beating Abbott
It’s no longer Tony Abbott versus Kevin Rudd. It’s several large, wealthy transnational companies — Rio Tinto, BHP-Billiton, Xstrata, News Ltd — versus Labor.
Life under NT’s profit-based royalty regime: Xstrata has no complaints
Under the Northern Territory’s profit-based royalty regime, Xstrata’s McArthur River mine has only paid royalties for 2 years out of the 15 years it has been operating.
Don’t feel sorry for Xstrata
It’s a disaster in central Queensland as Xstrata shuts down projects in response to the RSPT. Except, Xstrata is ramping up its investment in coal up there — and has pulled this stunt before.
Tax havens and cosy deals: the Xstrata story
Mining multinational Xstrata has a real aversion to tax. While Rio and BHP might be every bit the lying multi-national bullies that Xstrata is, at least they’re actually genuine mining companies.
Business As Usual: Vale spreads its Queensland wings … be wary of higher US jobs figures …
Vale spends a lazy $200 million for Belvedere mine, counters count in US jobs count, there are more cars on the roads all over the place, vegie prices tumble in China and other business news.
Carbon capture and storage is an expensive pipe dream
Carbon capture and storage may be possible, but it certainly does not look commercially feasible.
Where does Garrett stand on the McArthur River Mine?
A surprise decision by the Federal Court in late December will cause real headaches for both the Commonwealth and Northern Territory Governments, writes Bob Gosford.
Acquisitive Swiss eye OZ Minerals
The OZMinerals saga continues to throw up curveballs with Swiss mining giant Xstrata the latest suitor to throw its hat in the ring, writes Glenn Dyer.
BHP tempting fate with Rio tilt
BHP Billiton is already the biggest mining company in the world, is there any value in it getting bigger? asks Glenn Dyer.
Kohler: What a beautiful, impossible, merger it would be
That BHP is going for Rio Tinto is, in some ways, a sign of desperation … but, oh my, what a beautiful merger it would be, writes Alan Kohler.
Morning Market Report
The highlights and lowlights of this morning’s sharemarket activity.
The Coates Hire director who bought on the cheap
Coates Hire director Vince Gauci deserves to be asked some hard questions about his share trading in the takeover target last week, says Stephen Mayne.
