MACKAY, Australia (AP) — The Australian mining boom built over a decade on Chinese hunger for energy and raw materials is turning into bust for many business owners as China's cooling growth reverberates through a country accustomed to winning from the rise of an Asian economic giant.
BEIJING (AP) — Voracious demand for wood to feed factories for exports and satisfy wealthier consumers at home has turned China into a magnet for the illegal timber trade, causing other countries to strip their forests as Beijing does little to discourage the practices, an environmental group said in a report released Thursday.
The Australian government pushed a new 30 percent tax on big mining companies through Parliament on Monday but faces an uphill battle to reduce the tax burden on struggling companies outside the booming commodities sector.
The Senate passed the legislation 38 votes to 32, allowing the government to take a bigger slice of profits from a mining boom driven by Chinese and Indian demand for raw materials.
North Dakota lawmakers, including Sen. Heidi Keitkamp, D-N.D. and Sen. John Hoeven, R-N.D., were among those launching criticism at the Obama administration for delaying a decision on the proposed Keystone XL oil pipeline, the Williston Herald reports
China, the world’s largest investor in renewables, will continue to boost spending on solar and wind projects as well as starting construction on some nuclear power plants, Premier Li Keqiang said in a website posting, Bloomberg reports.
The decision by Minnesota regulators to back Geronimo Energy’s $250 million proposal for a solar project is the latest example of how the company, which didn’t exist 10 years ago, is continuing to grow, the Star-Tribune reports.
The company behind the proposed $2 billion Rock Island Clean Line, the transmission line which would bring 3,500 megawatts of wind energy from Iowa to Illinois, claims the project could bring Chicago residents electricity savings, the Chicago Sun-Times reports.
Suncor Energy, one of several Canadian companies that backs the Keystone XL pipeline project, said over the weekend that one of its employees died after being hurt at an oil sands site, The Globe and Mail reports.