Rio Tinto outlines gas fears

Rio Tinto Ltd is battling to bring Queensland gas sellers to the table for a major alumina plant as concerns persist about an east coast gas shortage, according to The Australian.

The mining giant says high prices aren’t as much of a worry as opposed to whether there will actually be enough gas to fire its recently expanded Yarwun alumina plant at Gladstone.

"We're not asking for preferential prices or that sort of thing, we're just asking for there to be a market in eastern Australia," Rio's head of bauxite and alumina, Pat Fiore, said, according to The Australian.

"Right now we're struggling to attract anyone to the table to negotiate."

Domestic buyers are competing with energy hungry Asian investors, who have shown a willingness to pay around triple the price of traditional Australian gas prices.

It is not known when Rio’s Yarwun contracts expire, but it is likely to be in the next few years given the miner’s desire to come to the negotiating table now.

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Its time for an ozzie Federal Government to create a Minister for Australia..who sole responsibility is making sure keep resources are kept here and used by all ozzies at cheaper prices than we sell them elsewhere. We might need finesses the wording to placate the tree huggers, but we dont want to struggle, we dont want our kids to struggle and we dont want our grandkids to struggle.
Echoes of Whitlam’s “Buy Back the Farm” – a policy he sought for good reason. Laberal politicians have through their own incompetence, negligence and contempt for the public interest (such as not imposing any gas reserve for domestic use) created a gas shortage by falling over themselves to rubber-stamp Big Energy's arrogant export demands, despite having been forced by public opposition to limit the environmental destruction that is CSG. Big Energy and the politicians it owns are now exploiting the problems they've created in the Eastern States to Big Energy's advantage, by using the resulting shortage of gas to insist that “we” need open-slather on CSG for domestic supply. Thus the politicians not only get the graft from transnational energy exploiters for selling out, but also blackmail us into measures (i.e. open-slather CSG extraction) that are environmentally damaging, reward Big Energy's disdain, and may be socially and industrially damaging (note the certainty of price increases). Who benefits most? Big Energy's profits! Recall the 2012 statement of Mitch Hooke (CEO of the Minerals Council of Australia since June 2002), who declared “it wasn't necessary for Australians to be sharing in the benefits of the mining boom”. Or after the GrainCorp takeover rejection, one of the Den of Thieves (the BCA) warned of a risk to “critical foreign investment in the future”, while the U.S. State Department expressed “disappointment” at the decision. At least officially, under Gillard, Labor took a different view. “You don't own the minerals,” Prime Minister Julia Gillard told miners at the Minerals Council of Australia annual dinner in May. “I don't own the minerals, governments only sell you the right to mine the resource. A resource we hold in trust for a sovereign people. They own it and they deserve their share.” Mining executives were said to be “dumbstruck” by Ms Gillard's comments - “She told us this is Australia and it has a Labor government, that it is a party of redistribution, so suck it up.” Naturally in addition to the relentless media vilification, class traitors like Ferguson, Crean, Kelty and Gray rounded on her. They knew who they serve, and it isn’t Australia.
And, dear Tony, you'd also be OK with matters of concern to Aussies to be 'controlled'. Thoughts that come to mind are bank deposit interest rates, Local Gov't charges, Rates, house prices.... Given that we Aussie investors are encouraged to invest in the marketplace, why should we thus be denied market profits? .