Australia’s richest person Gina Rinehart said she plans to relinquish control of a multi-billion dollar family trust, ending a long-running and bitter feud with two of her “lazy” children.

China may boast the world’s largest potential reserves of shale gas but is likely to lose to Australia in the race to be second behind the US in bringing significant production on line.

Australia’s finance minister has declared rock star Bruce Springsteen the answer to economic woes.

Rebekah Kebede reports from Australian outback mining town Karratha, on the attractive prospects on offer for those willing to dig deep