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Resource Super Profits Tax
The Minerals Resource Rent Tax (MRRT) was a tax on profits generated from the mining of non-renewable resources in Australia. It was a replacement for the proposed Resource Super Profit Tax (RSPT). The tax, levied on 30% of the "super profits" from the mining of iron ore and coal in Australia, was introduced on 1 July 2012. A company was to pay the tax when its annual profits reach $75 million, a measure designed so as not to burden small business. The original threshold was to be $50 million until independent MP Andrew Wilkie negotiated an amendment. Around 320 companies would have potentially been affected by the changes. The Coalition, led by Tony Abbott, went to the 2010 and 2013 elections promising to repeal the tax. The Coalition won the 2013 election, and after one failed attempt to pass the bill, the Mining Tax Repeal Bill finally passed both houses of Parliament on 2 September 2014 and the tax was subsequently repealed. A January 2014 poll conducted by UMR Research, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-renewable Resource
A non-renewable resource (also called a finite resource) is a natural resource that cannot be readily replaced by natural means at a pace quick enough to keep up with consumption. An example is carbon-based fossil fuels. The original organic matter, with the aid of heat and pressure, becomes a fuel such as oil or gas. Earth minerals and metal ores, fossil fuels (coal, petroleum, natural gas) and groundwater in certain aquifers are all considered non-renewable resources, though individual elements are always conserved (except in nuclear reactions, nuclear decay or atmospheric escape). Conversely, resources such as timber (when harvested sustainably) and wind (used to power energy conversion systems) are considered renewable resources, largely because their localized replenishment can occur within time frames meaningful to humans as well. Earth minerals and metal ores Earth minerals and metal ores are examples of non-renewable resources. The metals themselves are presen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BHP Billiton
BHP Group Limited (formerly known as BHP Billiton) is an Australian Multinational corporation, multinational mining, metals, natural gas petroleum public company that is headquartered in Melbourne, Victoria, Australia. The Broken Hill Proprietary Company was founded on 16 July 1885 in the mining town of Silverton, New South Wales. By 2017, BHP was the world's largest mining company, based on market capitalisation, and was Melbourne's third-largest company by revenue. BHP Billiton was formed in 2001 through the merger of the Australian Broken Hill Proprietary Company Limited (BHP) and the Anglo–Dutch Billiton plc trading on both the Australian Securities Exchange, Australian and London Stock Exchanges as a dual-listed company. In 2015, some BHP Billiton assets were demerged and rebranded as South32, while a scaled-down BHP Billiton became BHP. In 2018, BHP Billiton Limited and BHP Billiton plc became BHP Group Limited and BHP Group plc, respectively. In the 2020 Forbes Glob ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
High Court Of Australia
The High Court of Australia is Australia's apex court. It exercises Original jurisdiction, original and appellate jurisdiction on matters specified within Constitution of Australia, Australia's Constitution. The High Court was established following passage of the ''Judiciary Act 1903''. It derives its authority from Chapter III of the Australian Constitution, which vests it responsibility for the judiciary, judicial power of the Commonwealth. Important legal instruments pertaining to the High Court include the ''Judiciary Act 1903'' and the ''High Court of Australia Act 1979''.. Its bench is composed of seven justices, including a Chief Justice of Australia, Chief Justice, currently Susan Kiefel. Justices of the High Court are appointed by the Governor-General of Australia, Governor-General on the Advice (constitutional law), advice of the Prime Minister of Australia, Prime Minister and are appointed permanently until their mandatory retirement at age 70, unless they retire ea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Constitution Of Australia
The Constitution of Australia (or Australian Constitution) is a written constitution, constitutional document that is Constitution, supreme law in Australia. It establishes Australia as a Federation of Australia, federation under a constitutional monarchy and outlines the structure and powers of the Australian government's three constituent parts, the Government of Australia, executive, Parliament of Australia, legislature, and Judiciary of Australia, judiciary. The constitution was drafted between 1891 and 1898, through a series of Constitutional Convention (Australia), conventions conducted by representatives of the six self-governing British colonies in Australia. The final draft was then approved in a 1898–1900 Australian constitutional referendums, set of referendums from 1898 to 1900. The British government objected to some elements of the final draft, but a slightly modified form was enacted as section 9 of the ''Commonwealth of Australia Constitution Act 1900'', an Ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2010 Australian Labor Party Leadership Election
A leadership spill occurred in the Australian Labor Party on 24 June 2010. Kevin Rudd, the prime minister of Australia, was challenged by Julia Gillard, the deputy prime minister of Australia, for the leadership of the Australian Labor Party. Gillard won the election unopposed after Rudd declined to contest, choosing instead to resign. Gillard was duly sworn in as prime minister by Quentin Bryce, the Governor-General, on 24 June 2010 at Government House, becoming Australia's first female prime minister. Gillard was the Deputy Leader of the Labor Party since 4 December 2006, and was appointed Deputy Prime Minister of Australia after Labor's landslide victory in the 2007 federal election. She was also appointed the Minister for Education and Minister for Employment and Workplace Relations. Background Rudd and Gillard became Leader and Deputy Leader of the Australian Labor Party on 4 December 2006, during the fourth and final term of the Howard Government. The pair succ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Senate
The Senate is the upper house of the Bicameralism, bicameral Parliament of Australia, the lower house being the House of Representatives (Australia), House of Representatives. The composition and powers of the Senate are established in Chapter I of the Constitution of Australia. There are a total of 76 senators: 12 are elected from each of the six states and territories of Australia, Australian states regardless of population and 2 from each of the two autonomous internal states and territories of Australia, Australian territories (the Australian Capital Territory and the Northern Territory). Senators are popularly elected under the single transferable vote system of proportional representation. Unlike upper houses in other Westminster system, Westminster-style parliamentary systems, the Senate is vested with significant powers, including the capacity to reject all bills, including budget and appropriation bills, initiated by the government in the House of Representatives, maki ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coal Seam Gas
Coalbed methane (CBM or coal-bed methane), coalbed gas, coal seam gas (CSG), or coal-mine methane (CMM) is a form of natural gas extracted from coal beds. In recent decades it has become an important source of energy in United States, Canada, Australia, and other countries. The term refers to methane adsorption, absorbed into the solid matrix of the coal. It is called 'sweet gas' because of its lack of hydrogen sulfide. The presence of this gas is well known from Firedamp, its occurrence in underground coal mining, where it presents a serious Methane#Safety, safety risk. Coalbed methane is distinct from a typical sandstone or other conventional gas reservoir, as the methane is stored within the coal by a process called adsorption. The methane is in a near-liquid state, lining the inside of pores within the coal (called the matrix). The open fractures in the coal (called the cleats) can also contain free gas or can be saturated with water. Unlike much natural gas from conventiona ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tony Windsor
Antony Harold Curties Windsor, (born 2 September 1950) is a former Australian politician. Windsor was an independent member for the New South Wales Legislative Assembly seat of Tamworth from 1991 to 2001 − supporting the incumbent Greiner Liberal/National Coalition minority government at the 1991 election. He subsequently entered federal politics, serving as an independent member for the Australian House of Representatives seat of New England from 2001 until retiring in 2013 − supporting the incumbent Gillard Labor minority government at the 2010 election. At the 2016 election, Windsor unsuccessfully attempted to regain the seat of New England against Nationals incumbent Barnaby Joyce. Early life Tony Windsor was born in Quirindi, New South Wales. He was one of three sons raised by their mother after their father was killed in a farm accident when Windsor was eight years old. He was educated at Farrer Memorial Agricultural High School, Tamworth and the University o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian House Of Representatives
The House of Representatives is the lower house of the bicameral Parliament of Australia, the upper house being the Senate. Its composition and powers are established in Chapter I of the Constitution of Australia. The term of members of the House of Representatives is a maximum of three years from the date of the first sitting of the House, but on only one occasion since Federation has the maximum term been reached. The House is almost always dissolved earlier, usually alone but sometimes in a double dissolution of both Houses. Elections for members of the House of Representatives are often held in conjunction with those for the Senate. A member of the House may be referred to as a "Member of Parliament" ("MP" or "Member"), while a member of the Senate is usually referred to as a "Senator". The government of the day and by extension the Prime Minister must achieve and maintain the confidence of this House in order to gain and remain in power. The House of Representatives c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gina Rinehart
Georgina Hope Rinehart (née Hancock, born 9 February 1954) is an Australian mining magnate and businesswoman. Rinehart is the Executive Chairman of Hancock Prospecting, a privately owned mineral exploration and extraction company founded by her father, Lang Hancock. Rinehart was born in Perth, Western Australia, and spent her early years in the Pilbara region. She boarded at St Hilda's Anglican School for Girls and then briefly studied at the University of Sydney, dropping out to work with her father at Hancock Prospecting. She was Lang Hancock's only child, and when he died in 1992leaving a bankrupt estateshe succeeded him as executive chairman. She turned a company with severe financial difficulties into the largest private company in Australia and one of the largest mining houses in the world. When Rinehart took over Hancock Prospecting, its total wealth was estimated at 75 million, which did not account for group liabilities and contingent liabilities. She oversaw an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrew Forrest
John Andrew Henry Forrest (born 18 November 1961), nicknamed Twiggy, is an Australian businessman. He is best known as the former CEO (and current non-executive chairman) of Fortescue Metals Group (FMG), and has other interests in the mining industry and in cattle stations. With an assessed net worth of 27.25 billion according to the ''Financial Review'' 2021 Rich List, Forrest was ranked as the second richest Australian. According to the ''Financial Review'', Forrest was the richest person in Australia in 2008. In 2013, Andrew and Nicola Forrest, his wife, were the first Australian billionaires to pledge the majority of their wealth to charity in their lifetimes. He had earlier stepped down as CEO of Fortescue Metals in 2011. Much of the Forrest's philanthropy has been through either the Minderoo Foundation (focusing on education and Indigenous Australians) or the Walk Free Foundation (focusing on ending modern slavery), both of which he established. Forrest has been ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hancock Prospecting
Hancock Prospecting Pty Ltd is a leading Australian owned mining and agricultural business run by Executive Chairman Gina Rinehart and CEO Garry Korte. At stages of its trading, the company has been known as Hancock Prospecting Ltd, Hancock Resources Ltd, Hanwright Pty Ltd, Hancock & Wright Ltd, and Hancock Prospecting Pty Ltd. Hancock Prospecting Pty Ltd is owned by Rinehart (76.6%) and the Hope Margaret Hancock Trust (23.4%). The company was founded in 1955 by Rinehart's father, the late Lang Hancock. Hancock Prospecting holds the mineral rights to some of the largest Crown land leases in the Pilbara region of Western Australia. Upon assuming the Executive Chairmanship, Rinehart took over a company that was in a perilous financial position with significant debt and major assets mortgages and under threat of seizure. Activities The Hancock Group of Companies holds numerous iron ore leases in the Pilbara. The leases cover an area of predominantly in the Central Pilbara region ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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