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Mining investment crucial for Australia's economic growth Minerals Council of Australia chief executive Tania Constable has emphasised the pivotal role of mining investment in driving Australia's economic growth. In a statement, Ms Constable highlighted the significant contribution of the minerals industry to the country's prosperity and urged the Federal Government to prioritise policies that support and attract investment in the sector. Australia's minerals industry has been the backbone of the economy, generating substantial export earnings and tax revenue, and laying the foundation for this year's Federal Budget surplus. Ms Constable stressed that sustaining this economic success requires a renewed focus...

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Environmental mining reforms pass through Northern Territory Parliament Reforms to the Northern Territory’s environmental regulation of mining activities have passed through Parliament. The Environmental Protection Legislation Amendment (Mining) Bill 2023 will improve the Northern Territory’s environmental management of mining activities. The Northern Territory’s mining industry is the largest income driver, with the industry worth over $6b. Northern Territory Environment, Climate Change and Water Security Minister Kate Worden commented on the reforms. “The resources sector is a major employer and economic driver for the Northern Territory and will be an important factor in our future prosperity,” she said. “Mining needs to be sustainable and ecologically viable. These reforms will give the industry more certainty...

Conditions satisfied for Illawarra Metallurgical Coal sale All conditions relating to the sale of South32’s (ASX: S32) Illawarra Metallurgical Coal in NSW have been completed with the transaction expected to be complete in September 2024. In February 2024, South32 announced it had entered a binding agreement to sell Illawarra to an entity owned by Golden Energy and Resources and M Resources for $1.98b (US$1.3b) plus a contingent consideration of up to $533m (US$350m). The sale was subject to the satisfaction of certain conditions which have now been completed. When announcing its intention to sell Illawarra,...