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The Pilbara Port Authority announced earlier this month that it will be increasing its capacity at the port of Port Hedland by 16% over the next 3 years. This will see the port’s capacity increase from 495,000,000 tonnes to 577,000,000 tonnes per year. This has come following the port’s record throughput in 2014-15 of 446,921,901 … Read more
In September 2014, BSG Resources Limited initiated an international arbitration proceeding against the Republic of Guinea arising out of an alleged expropriation of its investment in the mining sector in the country. The multinational mining company started its operations in Guinea in 2006 and in 2013 it was granted mining licenses to explore and … Read more
On 9 October 2015 the Infrastructure, Planning and Natural Resources Committee released its “Parliamentary Inquiry report into FIFO and other long distance commuting work practices in regional Queensland” (Parliamentary Inquiry Report). Earlier this month, on 1 October 2015, the Government appointed FIFO Panel made its “FIFO Review Report” (Review Report) publicly available, after being provided … Read more
On 12 October 2015, Herbert Smith Freehills attended the Queensland Department of Natural Resources & Mines workshop on the Innovative Resources Tenures Framework in Brisbane.The purpose of the workshop was to discuss the Policy Position Paper, which was released in August 2015. Submissions in response to the Policy Position Paper close on 30 October 2015. … Read more
Material changes are proposed to the tenures under which minerals and petroleum are explored for in Queensland. The Department of Natural Resources and Mines recently released a policy position paper titled ‘Innovative resources tenures framework’ (Reform Policy). Consultation with the industry and interested parties is proposed for September and October 2015. Importantly, submissions on the … Read more
The Aboriginal Land Rights Act 1983 (NSW) (Land Rights Act) has been recently amended to include a framework for reaching agreements with Aboriginal Land Councils. The new framework and capacity to reach Aboriginal Land Agreements (ALAs) is important for project development and transactional due diligence. ALAs are formal agreements between an Aboriginal Land Council, the … Read more
In an earlier post we noted that the Canadian federal government had brought new legislation into force on 1 June 2015, the Extractive Sector Transparency Measures Act, which establishes reporting requirements of payments made to governments by mining (and other extractive) companies. This followed the earlier implementation by Norway and the UK of similar reporting … Read more
On 25 June 2015, the Australian Government introduced a tax bill (Tax and Superannuation Laws Amendment (2015 Measures No 2) Bill 2015) to Parliament dealing with tenement realignment and farm-in-farm-outs. Broadly, upon enactment of the bill the following rules will apply (retrospectively from 14 May 2013): There will be an income tax roll-over for tenement … Read more
Last week, the Canadian federal government brought new legislation into force, which establishes reporting requirements of payments made to governments by mining (and other extractive) companies. The Extractive Sector Transparency Measures Act applies to Canadian listed companies, as well as those companies above certain monetary / employee thresholds with assets or business located in Canada, … Read more
