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The project, known as Solomon is expected to cost around US$3,34bn.

Within the next two years Western Australia’s big new iron ore miner Fortescue Metals Group Ltd (ASX: FMG) will decide whether it will open up a new iron ore mining area in the Pilbara of Western Australia.

The project known as Solomon was detailed at the Sydney Mining Club and was said to have a development cost of A$3.6 billion (US$3.34 billion).

Fortescue launched its operations through the Cloudbreak mine in the Chichester Range to export to China through a port developed by the company at Anderson Point in Port Hedland. The company has started development on its second mine, Christmas Creek, also in the Chichester Range.

Solomon is well west of Cloudbreak. It was indicated the company’s capacity out of Port Hedland may cater only for ore from the Chichester hub, so a second port and new rail link would be required to a Pilbara port at Anketell Point – particularly if Fortescue ramps up beyond 155 million tonnes per annum of export ore.

The cost of developing Solomon would take in A$850 million (US$790.8 million) for the mine, a similar amount for the railway, and A$700 million (US$651.3 million) for processing plant

The company claimed that while a lot more drilling was required the Solomon hub had potential to be much larger than the Chichester Ranges operations, currently mining at a rate of 38 Mtpa and gearing to increase to 95 Mtpa.

The Solomon mine could begin at 60 Mtpa, expanding to 100 Mtpa.

While Cloudbreak and Christmas Creek are bedded iron formations, not mined elsewhere in the Pilbara at this stage, Solomon has a mix in its iron ore geology and includes what is known as channel iron deposits.

Sydney Mining Club delegates were told that exploration in the Pilbara in the past five years has yielded reserves and resources for Fortescue of 6.3 billion tonnes, including reserves of 1.6 billion tonnes.  The discovery cost was put at A2cents a tonne.

Fortescue dominates the landholdings for iron ore in the Pilbara with 17,400 square kilometres, compared to Rio Tinto with 11,000 sq km and BHP Billiton 6,500 sq km.

Fortescue’s holdings include a large number of coastal and offshore tenements, assumedly for ironsands shed over the eons. The company also holds coastal and offshore tenements in New Zealand for ironsands.

Source  :  www.mineweb.co.za

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The Broome to Fremantle Ocean Race will be a part of the 7,500 nautical mile Around Australia Race and Rally event.

Bob Williams the CEO of Ocean Events Pty Ltd, the Western Australian company behind the 2011 ‘Around Australia Ocean Race and Rally’ has spent the last few days in Broome, located in the Kimberley Region of Western Australia, and an important stop-over port for both the Around Australia Ocean Race and Rally.

Williams has been meeting with local authorities and business people discussing the event coming to Broome waters in August and September 2011.

‘I couldn’t be more pleased with the reception that I have received in Broome and the enthusiasm for our event. Broome people will make this a memorable stop-over port that everybody associated with both the Race and Rally yachts will thoroughly enjoy.’

Incorporated into the 2011 Around Australia Ocean Race is the Broome to Fremantle Ocean Race. The Perpetual Broome to Fremantle Ocean Race Trophy is designed and manufactured in Broome by the internationally renowned pearl jewellery company Linneys of Broome.

Principal owner of Linneys Mr Bill Reed yesterday gave Bob Williams and Broome Shire President Mr Graeme Campbell the first viewing of of the trophy.

Linneys apprentice Joshua Gower is the proud craftsman of this fine trophy a copy of which will be taken home by the winning skippers of the 2011 Broome to Fremantle Ocean Race.

Originally founded as a pearling port over a hundred years ago, Broome now boasts a multicultural population of many nationalities lured here by the promise of finding their fortunes. Asian, European and Aboriginal cultures have all blended to create a captivatingly friendly and flamboyant personality that is the heart and soul of Broome.

Broome pearls are recognised as the best in the world and pearling remains one of the town’s major industries.

Broome has a permanent population of 15,000 which expands to 40,000 around the time of the Broome Cup Week horse racing carnival (August) attracting visitors from all over Australia and around the world.

The crews of the Around Australia Ocean Race and Rally yachts, shore crew, family, friends, supporters, sponsors, and local and international media people are bound to be captivated by Broome – one of Western Australia’s and Australia’s best loved tourist attractions.

‘Since we opened the doors for Slot Reservations we have been staggered by the responses for both the Race and Rally – still about neck and neck in event preferences at this stage.

Skandia – 2011 Around Australia Ocean Race and Rally for Cruisers  Andrea Francolini ©  

 

‘We’ve heading towards 100 boats now from 100 foot super maxis to Transatlantic racers, from cruising and racing catamarans and many cruising monohulls and the reservations just keep rolling in and we expect that at this rate we will have a total of around 300 reservations.

‘It’s very gratifying to see such interest in the event. It’s plain that the event has such national and international appeal with Event Slot Reservations coming in from South Africa, Europe, the USA, and New Zealand already.

‘Some very significant Australian yacht clubs have chosen to join with us in planning and running this major event and we will be making announcements about that in coming days.

‘Please get your Slot Reservations in as soon as possible, the news is spreading internationally now!!’

Got to www.sailaroundaustralia.com.au to read more and fill in your Slot Reservation now

Source  :  www.sail-world.com

 

 

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PREMIER Colin Barnett may ask the Federal Government to relax foreign worker allowances to prevent labour shortages at major WA projects.

WA faces severe shortages of skilled workers in 2011, when there is expected to be peak activity in WA’s resources sector, Mr Barnett told a media conference in Perth yesterday.

The premier’s comments come as a large Chinese steel maker, Ansteel, contemplates the viability of developing WA’s first steel mill.

Other massive projects planned for the state include Woodside Petroleum Ltd’s Pluto Liquefied Natural Gas (LNG) project, Chevron’s Gorgon LNG project, a new deep water port at Oakajee and CITIC Pacific’s Sino Iron project.

“I expect we will face serious skills shortages if these projects go together at the same time,” Mr Barnett said.

“Hopefully,  we can build these projects with Australian labour but I expect there will be skill shortages, in particular trades areas.

“We need to be prepared to bring in some of their (Chinese) workers.”

Source  :  www.news.com.au

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WILD weather has caused havoc across Perth, uprooting trees, tearing off roofs and plunging homes into darkness.   

Winds travelling at more than 100km/h tore through the city overnight, ripping the roof off a granny flat in Doubleview, collapsing a ceiling in Joondalup and blowing in the windows of a house in City Beach.

More than 17,000 are believed to be without power because of the storm, mostly in the Perth hills.

State and Emergency Services (SES) have recorded 70 calls for help since 7am, with a total of 125 incidents logged since 6pm last night and 240 properties impacted.

Damage has been reported in coastal suburbs from Two Rocks to Rockingham and all SES units in the metropolitan area have been activated with volunteers in Northamweather called in for backup.

A series of cold fronts have been lashing the city since Friday, with Rottnest, Ocean Reef, Mandurah and Bickley some of the worst hit areas.

Ocean Reef recorded a wind gust of 107km/h and gusts of 115km/h were recorded at Rottnest, where ferry services have been cancelled.

The ports of Fremantle and Kwinana ports have suspended operations until midday.

Across the state, Cape Naturalist and Cape Leeuwin recorded wind gusts of up to 109km/h.  There have been reports of fallen trees and minor damage to homes in Bunbury, Busselton and Capel.

The WA Bureau of Meteorology says it is the wettest day of the year.

Flights from Perth’s international terminal are running half an hour behind schedule, and Main Roads are urging motorists to slow down and take care in the inclement weather.

Near the city, waves from the Swan River were lapping around peak hour traffic on the Kwinana Freeway this morning, while Riverside Drive and parts of Beaufort St have isolated flooding.

Traffic lights are out on the intersection of Great Eastern Highway and Stoneville Rd in Mundaring and at the junction of Kalamunda Rd and Gooseberry Hill Rd.

WA Bureau of Meteorology climate information officer John Relf says 23.2mm of rain has fallen overnight taking Perth much closer to the 177mm average with 147.8mm of rain recorded this month.

“We have exceeded last year’s June rainfall of 142mm,” he said.

Heavy rain has been reported from Collie to Walpole.

WA Water Corporation spokeswoman Clare Lugar says dams should have now started benefiting from the all rainfall.

“Up until Friday the streams hadn’t started to flow,” Ms Lugar said.  “But we are expecting it to have begun flowing over the weekend.” 

The wild weather is expected to ease up later tonight with fine weather forecast by Thursday.

Source  :   www.news.com.au

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The Economy
Deficit $57.593 billion
Unemployment 8.25 per cent
Economic Growth -0.5 per cent of GDP
Inflation 1.75 per cent
First Home Owners Boost continued for six months
Small Business and General Tax Break increased to 50 per cent for order this calendar year

Infrastructure spending

A total of $22 billion including $8.5 billion for road, rail and port.
$3.2b for West Werribee to Melbourne’s Southern Cross Station
$40m towards design of Melbourne’s East-West rail tunnel
$365m for light rail corridor for the Gold Coast
$20m for planning new corridors in Brisbane
$294m to upgrade Adelaide’s Gawler line
$291m to extend Noarlunga to Seaford line
$61m to extend O-Bahn track in Adelaide
$236m towards central city section of Perth to Fremantle line
$91m for design work on Sydney West metro from Central to Westmead Road ($3.4b)
$1.5b for Hunter Expressway linking the F3 and New England Highway in NSW
$618m towards dual carriageway bypass of Kempsey on the Pacific Highway, NSW
$488m to replace 25km of Bruce Highway between Cooroy and Curra in Qld
$844m to upgrade Ipswich Motorway, Qld Ports ($389m)
$50m for Port of Darwin’s East Arm
$339m for development of common facilities at Port of Oakajee in

WA energy

$4.5b on new clean energy initiative

Education

$5.3b on tertiary education, research and innovation
$934m for 11 teaching, eight research and 12 vocational training projects
$901m for 21 research projects in space, marine, climate and nuclear science
$750m for future funding rounds of the Education Investment Fund
$491m to uncap number of university places from 2012
$437m over four years to provide university education for the disadvantaged
$500m to encourage research, development and commercialisation of ideas
$512m to help universities fund research

Health

$2.5b over five years to drive hospital and health workforce reform
$3.2b from Health and Hospitals Fund to modernise hospitals and improve cancer facilities
$121m over four years to relieve pressure on maternity services
$134m on rural health workforce strategy
Private health insurance rebate reduced for higher income earners
Medicare Levy Surcharge increased
Families

$731m over five years for paid parental leave scheme

Superannuation

Halving of salary sacrifice into super to $25,000 a year for those under 50 and to $50,000 a year for those over 50.

Cut in Government super contribution from $1,500 to $1,000 for those earning less than $60,000 a year

Aged

Pension age increased progressively to 67 years by 2023
Rate at which the pension is withdrawn with private income increased to 50 cents in the dollar
Single Pensioners to get extra $32.49 per week
Couple pensioners to get extra $10.14 per week
New $600 a year Carer Supplement for all Carer Payment recipients, on top of an increase in their pension
Carer allowance recipients to get extra $600 a year for each person in their care

Immigration

Skilled migrant intake slashed by 20 per cent
Extra $650m in funding for border protection

Public broadcasting

ABC to get extra $150m in funding over next three years
SBS to get extra $20m over next three years

www.sbs.com.au

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The_Sky_Railway_TrackA consortium behind a multi billion dollar port and rail project in Western Australia’s mid west says construction will start in 2011.

Oakajee Port and Rail (OPR) locked in an agreement with the State Government in April to build a $4 billion port and associated rail infrastructure.

The Chief Executive of OPR, Chris Eves, has told a business gathering in Perth this morning that the consortium hopes to complete the project by 2013.

Mr Eves says $60 million has already been spent undertaking a feasibility study with another $100 million to be spent in the next 18 months.

http://au.biz.yahoo.com/090512/31/269qw.html

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