In this edition
On 24 March, the Federal Government announced it would accept all 98 recommendations made by the Policy Transition Group (PTG) which it set up to advise on the structure of the proposed Minerals Rent Resource Tax (MRRT) and expanded Petroleum Rent Resource Tax (PRRT). The PTG made 94 recommendations about the MRRT and PRRT, and another four recommendations about the taxation treatment of mineral exploration generally.
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Since the commencement of the Fair Work Act 2009 (Cth) (FW Act), two 'hot issues' have emerged in the Australian resources industry: agreement making and the adverse action provisions strengthening the position of employees and unions in the workplace.
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Engineering, Procurement and Construction (EPC) and Engineering, Procurement and Construction Management (EPCM) contracts are two project delivery methods commonly used in the petrochemical oil and gas, mining and power sectors. Despite the widespread use of these contract models, there remains a general level of mystification associated with EPCM contracts. By acronym alone, the two contract models appear to be similar. So what's in an 'M'?
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Over the past couple of months, almost all of Queensland came to a standstill in the wake of the some of the worst natural disasters the state has ever experienced. The north of the state and the Queensland coal fields were inundated by flood. Flood waters tore through Toowoomba and the Lockyer Valley, finally submerging many parts of Brisbane. Then, the north was devastated by Cyclone Yasi.
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Major resources projects generally require particular skill sets, large scale coordination and - ideally - experience in similar projects. Often, parties interested in a particular project will come together to form a joint venture. Joint ventures enable participants to configure a specialist project team with the requisite skills and technical expertise, and share costs, risks and financial capabilities, which they may not otherwise be able to offer separately.
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Thiess' President Director Roy Olsen provides Phillip Greenham with his perspective into expatriate life in Indonesia and Thiess' role there.
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