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　　 Australian mining employment falls for first time in 3 years 　　Government data out on September 13 that covers the three months to August showed jobs in the mining sector fell by a net 4,600, following an increase of 25,500 in the three months to May.
　　Total employment in the industry was still up 44,600 on the same period last year, but it was the first quarterly drop since mid-2009 and comes amid news of more layoffs by miners facing weak prices and high costs.
　　Any pullback in mining would be a blow to the economy as it has been a big generator of jobs in recent years. While the industry’s workforce of 270,600 is barely more than 2 percent of the country’s 11.5 million employed, it has been growing rapidly.
　　Since early 2007, when Australia’s mining boom really got going, the sector has generated almost 133,000 jobs. That was beaten only by healthcare and the professional, scientific and technical services sector.
　　Crucially the growth in mining had helped offset weakness in manufacturing, which has shed 65,000 jobs in the same period as a high local dollar and stiff foreign competition forced much painful restructuring.
　　Miners BHP Billiton, Xstrata Plc and Fortescue Metals Group’s have all announced job cuts in the past as they battle weak prices, rising costs and a strong Australian dollar.
　　This could be a repeat of the job shedding seen during the global financial crisis in 2008/2009, when mining employment fell by 27,400 over six months.
　　At the time, hiring rapidly recovered as massive policy stimulus in China revived the demand for commodities. China is Australia’s single biggest customer, taking more than a quarter of its exports, much of it iron ore.
　　But this time China has been more reluctant to stimulate its economy, leading to sharp falls in prices for some of Australia’s key commodities, including iron ore and coal.
　　While Australia’s jobless rate is still at a low 5.1 percent, annual employment growth is a very sub-par 0.5 percent. If it were not for more people leaving the workforce, the unemployment rate would be nearer 6.0 percent now.
　　That is a major reason investors think the Reserve Bank of Australia(RBA) will cut interest rates again before the year is out. With rates having been held at 3.5 percent since July, markets are almost fully priced for an easing to 3.25 percent by November.
　　 Australia grants seven new offshore petroleum exploration permits
　　Australia has granted seven new offshore petroleum exploration permits in the gas-prone region around its northwestern coast as part of the second round of its 2011 acreage release, Minister for Resources and Energy Martin Ferguson said on September 13.
　　The recipients of the permits include industry heavyweights Shell, Repsol, Woodside Petroleum, Murphy Oil, and Japan Australia LNG. The permit holders have committed to spending an estimated A$277 million ($290 million) over the next three years exploring the areas, which lie off the Northern Territory and Western Australia.
　　“There continues to be a strong and growing interest in Australia’s prospect from both domestic and international companies with 19 bids for seven areas received,” Ferguson said in a statement. “These new exploration permits raise the potential to discover new oil and gas reserves, which will underpin new projects, provide more jobs and support the Australian economy.”
　　Australia is currently the thirdlargest exporter of LNG in the Asia Pacific region and the fourth largest in the world, with shipments worth more than A$12 billion/year. The country currently has three LNG projects with total capacity of about 24 million mt/ year.
　　“Australia has more than half of the world’s major LNG projects currently in construction and their completion could see Australia become the world’s largest LNG exporter,” Ferguson said. “These new permits have the potential to increase project development opportunities and strengthen our energy security and export capacity.”
　　There are currently seven LNG projects being built in Australia which, when completed, will boost the country’s total capacity to more than 80 million mt/year.
　　On September 10, Ferguson said Australia was on track to complete all the recommendations from the inquiry into the Montara oil spill off northwestern Australia.
　　Montara was the source of Australia’s worst-ever oil spill in August 2009, when a well being drilled by field operator Thailand’s state-controlled PTT Exploration and Production began leaking. The spill continued unchecked for 10 weeks, eventually causing the drilling rig to catch fire, before the well was “killed” in early November.
　　“In the 12 months since I released the Australian government’s response to the Montara inquiry, 81 of the 92 recommendations have been completed, and the remaining 11 accepted recommendations are on track for completion in the coming year,” Ferguson said.
　　Australia also plans to introduce legislation incorporating a “polluter pays” principle to cover all the costs of responding to a hydrocarbon spill.

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