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Tuesday 16th July 1996

International:

Talk about winning the battle but losing the war!

Those of you who thought that the Century Zinc battle had been won, think again. The Au$1.1 billion project has been put on hold because RTZ-CRA have decided to drop requests that legislation be enacted to secure title over the land. The company has decided to continue its talks with the Gulf Aborigines under the right-to-negotiate provisions of the Native Title Act.

The company's decision will delay the development of the mine by at least a year. Last night Queensland Premier Borbidge questioned whether the company had made the right move.

But RTZ-CRA managing director, Leigh Clifford, said the requirement for specific legislation covering the mine had become "highly divisive".

Now if I was a psychic I would make a quick prediction and claim that the name Murrandoo Yanner will suddenly become prominent once again in a dispute which will escalate over compensation claims.

Political:

Yesterday it was suggested that the Prime Minister may call for a referendum on guns. Today the Australian Electoral Committe have come back with one good reason why the states should rather agree.

The cost to hold a one question referendum would be Au$52 million. Now that's a lot of malochas. You could probably house all the homeless in Brisbane for less; buy me a nice international ocean going motorised launch or maybe even cover all the pollies travelling expenses up to the next election....

If the Government were to hold off until the next Federal Election in two years time the additional cost would only be about Au$6 million.

All this because a sicko, Michael Bryant, went on the rampage in Tasmania earlier this year.

Business:

News Corporation Ltd's credit rating outlook has been downgraded from positive to stable by agency Standard and Poor's but the company's existing ratings have been affirmed.

Standard and Poor's also withdrew its A-2 domestic commercial paper rating on News Corp's Australian subsidiary, News Limited. It said uncertainty about many of News Corp's investments were "likely to limit upgrade potential".

Wonder if that has anything to do with the bruising that Packer and the Australian Rugby League dished out to Super League earlier this year.

Sport:

An Australian Olympic team mamber has returned a positive drug test in Europe, team sources confirmed late last night.

The athlete, whose name and sport have not been revealed, is understood to have returned the positive swab during the Olympic warm-up event late last month.

Australia's rowing and cycling teams are among those that took part in European training camps.

Australian Olympic Committee president, John Coates, said that he had been aware of the situation "for some time".

"I cannot talk about the matter without threatening due process," he said.

Social:

About 19,500 people each year were claiming unemployment benefits "under false pretences" and would be caught under a new dole diary being introduced by the Federal Government, the Minister for Social Security, Senator Newman, said yesterday.

People who begin receiving unemployment benefits after July 28 will have to fill in a detailed diary with the name and address of the employers from whom they have sought work.

Those who fail to meet its requirements will have their unemployment benefits cut off for two weeks for the first breach, and an extra two weeks for each subsequent breach.

The diary is expected to save Au$25 million a year.

Personal trivia, from the global office:

Well the wind dropped yesterday and today it is beautiful and sunny after a very cold night with temperatures reaching about one degree celcius. Will be spending the day in the big smoke again seeing a number of clients.


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