Australian government has unveiled a new tax on mining project, triggering an angry response from resource companies and a series of companies to warn the plan jeopardizes billions dollars of the proposed investment. The government has defended the tax, announced in a election year and due to come into force with effect from July 2012 says it would not stall investment and gives the public a fairer share of returns in the booming resources sector.

BP said relief well on target as stock tumbles

NEW ORLEANS - BP's attempt to drill a relief and by 2 1 / 2 miles of rock to the Gulf to stop leaks is on schedule for completion in mid-August, the oil giant said Friday. . . Read more »

BHP Billiton manganese mine reopens Groote Eylandt

Diversified miner BHP Billiton has restarted the Groote Eylandt manganese mine in the Northern Territory. . . Read more »

BP chief apologizes for 'little people' remark

WASHINGTON (Reuters) - BP Chairman Carl-Henric Svanberg on Tuesday apologized for speaking of "clumsy" to refer to those hurt by oil spill from his company as "little people. . . Read more »

Potash is said that the questions of Sinochem, Vale received

Potash Corp. of Saskatchewan Inc. was contacted by China's Sinochem Group and Brazil's Vale SA as the company tries to fend off a hostile takeover from BHP Billiton Ltd. . . Read more »

Montana Says Exxon Pipeline Spill to cost $ 42.6M

Exxon Mobil Corp. (XOM), the world's largest oil company by market value, estimated the cost to July 1 spacious single oil spill in the Yellowstone River in Montana is $ 42. . . Read more »