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And the Tasmanian timber company Gunns has released a report showing its Tamar Valley pulp mill will deliver $10 billion to the Tasmanian economy over the next 20 years. Gunns hired Insight Economics to examine the economic impact of building its pulp mill at Bell Bay. The company says the report also shows the $2.5 billion project will create 250 direct and 3,000 indirect jobs over the next 20 years.

A group representing business and industry says there'll be an overwhelming threat to jobs if union claims for a minimum wage increase are granted. The ACTU wants Fair Work Australia to give the lowest paid workers - an extra $28 a week. But the Australian Chamber of Commerce and Industry says the minimum wage should go up by less than the cost of living increases.

And Fonterra Australia is delivering a windfall to its Tasmanian and Victorian milk suppliers. The export-driven company is paying higher rates backdated to July last year, meaning the average farmer will receive between $20,000 and $30,000 extra dollars.

To the market numbers now, and a surge in resource stocks has driven the Australian share market higher. The All Ords closed up 77 points. The ASX200 gained 71. Elsewhere in the region, Japan's Nikkei was higher. The Hang Seng was up 16 points. Gold is up $14 an ounce. Tapis and West Texas crude are also higher.