SA Mines and Energy Journal : June-July 2010
JUNE/JULY 2010 SA MINES & ENERGY JOURNAL 43 THE CANARY Do you have a story to knock The Canary off his perch? Send it to email@example.com Confidentiality assured. In the first days after the announcement of the super profits tax, and as big miners announced they were taking their projects back to the drawing board, resource stocks tumbled The billions of dollars wiped off the value of BHP and Rio Tinto alone represented more than the original year-one target mining tax revenue of A$4 billion. The downwards spiral would make any head spin. In a super spin The resources industry has been accused of scaremongering about job losses with the implementation of a super profits tax. This caused the Canary to consider how a lack of punctuation in speech might contribute to ambiguity in the debate. If you are an employee, there is a world of difference between being told there are potential job-losses and potential-job losses. Similarly, there is a world of difference between a super-profits tax and a super profits-tax: It's only super for some. What a difference a hyphen makes In his response to the proposed mining tax, Shadow Treasurer Joe Hockey messed his metaphor a couple of times before his advisors put him straight. "Taking cash from the goose that lays the golden egg, " didn't sound nearly as bad as he intended. Afederal review of the militarily sensitive Woomera area has been on the cards since the Department of Defence last year blocked a joint venture between a Chinese company and iron ore miner Western Plains Resources. Despite a memorandum of understanding for multiple uses, resource companies have been frustrated by limited access to the area. In February this year, Federal Defence Minister John Faulkner said a review was very likely. Just recently, the Minister announced he would definitely conduct a review, and has given the job to Dr Allan Hawke. The Canary waits with bated breath for the next instalment. A goose by any other name Woomera review imminent! Uranium-bearing minerals were discovered in the Mount Painter area by GA Greenwood, son of local pastoralist and prospector WB Greenwood, in 1910. This discovery, on what was later named Radium Ridge, was exploited for radium by the Radium Extraction Company of South Australia Ltd (RECSAL). The region was the first target of intense exploration for uranium at the special request of the UK Government (for its atomic weapons program). Since then, a series of small deposits have been identified in the area. Mount Painter is also a site of significance for the local Adnyamathanha Aboriginal people, traditional owners of the region. A century of uranium The Challenger mine site in Woomera.