Infigen Energy Ltd., an Australia wind farm developer, said it’s in talks with Suntech Power Holdings Co. to re-evaluate their solar partnership after the Chinese company’s main unit was pulled into bankruptcy.
PTT Exploration & Production Pcl may lose the right to drill in Australia after a review of the company’s plans to prevent a repeat of its 2009 Montara oil spill off the northwest coast, the energy minister said.
Australia’s resource tax rate will be 40 percent and won’t be set at different levels for various commodities, Resources Minister Martin Ferguson said as companies look for a compromise on how the levy will be applied.
Australian Prime Minister Julia Gillard will speak today about a proposed levy to help pay for flooding repair costs in Queensland state as companies await the restoration of lines to transport raw materials, Resources and Tourism Minister Martin Ferguson said.
Australia’s Energy Minister Martin Ferguson cautioned against “protectionism and isolationism” and said close ties to fast-growing, commodity-hungry Asian consumers give his country’s economy a “great advantage.”
Australia reiterated that it’s prepared to negotiate some aspects of a proposed 40 percent tax on resource project profits that’s prompted companies including BHP Billiton Ltd. to review investment plans.