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Weekly Newswire - June 18, 2018

Royalties, taxes and new debt to keep Queensland growing

Queensland’s Palaszczuk Government will rely on ongoing high royalty payments from the state’s coal and gas sectors, along with new taxes and fresh debt, to fund a massive infrastructure spend, treasurer...

Rinehart joins battle for Atlas Iron

Australia’s richest woman, Gina Rinehart, has joined the battle to take over Atlas Iron, a race which already includes Mineral Resources founder Chris Ellison, and Fortescue founder Andrew ‘Twiggy’ Forrest. Rinehart’s Hancock Prospecting has reportedly acquired a stake of just under 20% in Atlas, in a move similar to that made recently by Fortescue. Mineral Resources, the original suitor...

Farmer confidence drops amid drought

Rabobank says heightened concerns over drought conditions have driven farmer confidence to a five-year low, with 75% of farmers now holding a pessimistic outlook. The three-quarters of farmers now reporting a negative outlook is up massively from the 36% who were negative in the March 2018 survey. Rabobank says grain growers are particularly worried about the weather, with the biggest drop in...

Shareholders stifle Eramet’s MDL bid

A bid by French miner Eramet to acquire its ASX-listed business partner Mineral Deposits Limited has

Anglo boss slams “unacceptable” Aurizon cuts

The new chief executive of Anglo American’s met coal business has criticised rail operator Aurizon

New CFO for Rio

Former Maersk executive Jakob Stausholm will be Rio Tinto’s next chief financial officer, with Chris...

Pilbara Minerals commissions lithium concentrator

Lithium developer Pilbara Minerals has commissioned the concentrator at its flagship Pilgangoora lithium-tantalum...

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