Western Australia 5 Star Plus scheme motion demands government provides audited cost benefit analysis, identifies costs to taxpayers and other regimes examined

An amendment to delete part of a motion moved by Ray Halligan critical of Western Australia’s 5 Star Plus scheme was passed in the Legislative Council on 19 September 2007.

Alcoa to shed 194 jobs, bringing end to aluminium foil manufacturing in Aus: cites high $A, low-cost China

Alcoa would shed 194 jobs, the bulk of which would be lost when it shut its aluminium foil and coil plant at its Yennora site in western Sydney, wrote Andrew Trounson in The Australian (28/9/2007, p.2).

Wall Street worried as China may prevent foreign investors from taking control of brokerages; central bank predicts economic growth of 11.6pc

The latest initial public offering on the Shanghai exchange was for China Shenhua Energy, one of the country’s biggest coal producers, which raised a record 66.58 billion yuan last week, wrote Colleen Ryan in The Australian Financial Review (4/10/2007, p.13).

Nickel prices average over US$46 600 a tonne in the first six months of 2007, a 90 per cent increase on the average price in 2006 (US$24 250)

Australian Commodities, Vol. 14 No. 3, September Quarter reported in May, prices reached a record of $54 200 a tonne, which reflected global supply constraints and increased demand, particularly from China. Prices have since eased and in early September nickel prices were trading in the range US$26 000 – 30 000 a tonne.

2007 global alumina forecast to increase 10 per cent to 81.7 million tonnes

China drives demand: In 2007, global production of alumina was forecast to increase by around 10 per cent to 81.7 million tonnes.

Aus Govt energy fear: China locking-up resources by long-term contracts, bypassing market

The Australian Government was concerned that the shortfalls in supply of oil and other energy resources may prompt countries like China to lock up access to supplies through long-term contracts, reported The Sydney Morning Herald (3/9/2007, p.2).