News
South Korea looks to invest in Australian resources as trade links grow
Senex Energy, a subsidiary of Korean steelmaker Posco and Gina Rinehart’s Hancock Resources, earlier this month announced plans for a $1 billion gas project for southern Queensland. The company’s chief executive Ian Davies recently spoke at an energy conference in Dalby, saying Korean companies were looking to Australia due to its reputation as a safe investment destination.Mr Davies said Korea was looking to invest in Australian gas and renewable projects to help decarbonise its own economy. “They have very clear decarbonisation ambitions, and I think Australia and Korea share that goal to … decarbonise together.”
Joint statement by Mrs Gina Rinehart AO & John McKillop CEO of Hancock Agriculture
The CEO of one of Australia’s largest cattle producers, John McKillop, has called for the government to rapidly build upon existing biosecurity measures and focus more to ensure Foot & Mouth Disease does not enter Australia. Gina Rinehart confirmed: “The threat of foot and mouth disease and other Cruel diseases, continue as a potentially devastating reality for our stock, that we must more actively protect our agricultural industry against. This protection must be real and certainly not less than what other countries are already providing.
Do we fill job vacancies with pensioners or migrants?
Article by Cian Hussey.
19 August 2022.
Road to net zero passes through Australia’s gas fields
Two weeks ago, The Australian Financial Review suggested that the first response to a critical gas domestic gas shortage should be to find more gas, rather than taking export gas away from Australia’s overseas customers and intensifying the global energy crisis. The Senex joint venture between South Korean steel maker Posco and Gina Rinehart’s Hancock Energy plans to spend $1 billion expanding its Surat Basin gas production in Queensland to take pressure off the big three Gladstone LNG exporters. When it’s allowed to work, the market can provide most things, from a fast COVID-19 vaccine to more essential fuels. This week suggested it could happen with energy too.
Backing for Rinehart’s $1b gas plan
THE Queensland Resources Council has welcomed a plan by gas company Senex to invest $1 billion in new fields. Mining magnate Gina Rinehart is partnering with South Korean steel giant POSCO, co-owners of Senex after a buyout this year, to expand gas in the Surat Basin. The investment is also forecast to create more than 200 construction jobs and 50 permanent roles.In a speech to business leaders in Queensland on Thursday, Federal Resources Minister Madeleine King called for more fields to be unlocked.Mr Macfarlane said it was more important than ever that investors had the confidence to make a significant outlay on resources and energy projects.
Senex Energy announces plans for a $1 billion expansion of its Surat Basin gas project
Queensland’s Surat Basin may be home to the state’s main coal seam gas region but it could be about to get a whole lot bigger. Senex Energy, which is owned by Gina Rinehart ‘s Hancock Energy and South Korean steel maker Posco, has announced a $1 billion expansion of its natural gas developments in the Surat Basin, which includes hydraulic fracturing, or fracking.
The expansion, which still needs approval from federal Environment Minister Tanya Plibersek, will increase the company’s gas production to 60 petajoules (PJ) per year from the end of 2025. Producing enough electricity to power more than 2.7 million homes each year, it is equivalent to more than 10 per cent of the east coast’s annual domestic gas requirements.
Feds urge Qld to open up more gas fields
Federal Resources Minister Madeleine King has called for more Queensland gas fields to be unlocked. Queensland gas is a “natural ally” of renewables and will support the addition of more intermittent energy, the minister told a business audience in Brisbane on Thursday. Mining magnate Gina Rinehart is partnering with South Korean steel giant POSCO, co-owners of Senex after a buyout this year, to expand gas in the Surat Basin. Senex will deliver 60 petajoules of gas each year to support demand from the east coast market, when the expansion of the Atlas and Roma North projects is complete. Australian Petroleum Production and Exploration Association acting chief executive Damian Dwyer said it was a “massive” project, with 60 PJ equivalent to the electricity used by more than 2.7 million homes each year.
Rinehart-Backed Gas Firm to Boost Supply After Australia Crunch
Senex Energy Ltd., controlled by Posco and billionaire Gina Rinehart, will invest A$1 billion ($707 million) to produce more natural gas in Queensland amid concerns from Australian authorities over a potential shortfall of the fuel. “The recent electricity crisis proved natural gas is critical to providing secure and reliable energy for Australians, and is needed to underpin renewables and replace aging coal generation,” Senex Chief Executive Officer Ian Davies said in the statement.
Mining magnate Rinehart to expand Qld gas
The Queensland Resources Council has welcomed a plan by gas company Senex to invest $1 billion in new fields. Mining magnate Gina Rinehart is partnering with South Korean steel giant POSCO, co-owners of Senex after a buyout this year, to expand gas in the Surat Basin. The expansion “demonstrates the best path forward to shoring up Australia’s energy security”, the industry body’s chief executive Ian Macfarlane said on Thursday.
