Doom and Gloom. Talk of a Recession.

[Q.]

As you said above, BHP have already invested heavily in the expansion. They will open the mine when commodity prices trend upward.

[Sojourner]

Commodity prices are a factor as are the Mining and Carbon Taxes that also reduce the profitabilty of the mine. BHP own mines in several countries and are now investing heavilly into one in Canada where they mine Potash instead of the Olympic Dam expansion, maybe the Canade mine simply offers a better return on their investment?

Reducing or not having the Carbon and Mining Tax and at the same time permitting the Enrichment of the product by a BHP company would no doubt significantly raise the value of the return on their investment, considering both are off the table under an ALP Government it could be that it wont go ahead until at least the enrichment option is put on the table to BHP. For Weatherill to do that means a change in ALP policy and a battle between the Left and the Right of the ALP.

I suspect if Rann / Weatherill had put the enrichment option on the table that yesterdays announcment may well have been quite different.

[fish]

It's a reaction to China's economic slowdown and the forecast that commodity prices will continue to fall. They will pull the stuff out of the ground when global commodity prices head upward.

It was well known a fair while ago that the expansion will not go ahead until certain things change in Australia. And if it doesn't change then expect to become a third world country.

LOL folks we have a winner!

[kickinit]

It's a reaction to China's economic slowdown and the forecast that commodity prices will continue to fall. They will pull the stuff out of the ground when global commodity prices head upward.

It was well known a fair while ago that the expansion will not go ahead until certain things change in Australia. And if it doesn't change then expect to become a third world country.

LOL folks we have a winner!

Where do expect the thousands of workers to go if mines shut down? Manufacturing seeing clipsal just sent a heap of work to china don't think so, car industry? Construction no one will be spending money so there won't be any jobs. Do you know of how many contracting companies support the mines? I have at least 30 on my phone. The sooner this carbon tax and mining tax is gone the better this country will be

[Gozu]

Yet more evidence talk back radio rots your brain.

[kickinit]

Yet more evidence talk back radio rots your brain.

I don't listen to talk back radio I actually work in the industry

[fish]

It's a reaction to China's economic slowdown and the forecast that commodity prices will continue to fall. They will pull the stuff out of the ground when global commodity prices head upward.

It was well known a fair while ago that the expansion will not go ahead until certain things change in Australia. And if it doesn't change then expect to become a third world country.

LOL folks we have a winner!

Where do expect the thousands of workers to go if mines shut down? Manufacturing seeing clipsal just sent a heap of work to china don't think so, car industry? Construction no one will be spending money so there won't be any jobs. Do you know of how many contracting companies support the mines? I have at least 30 on my phone. The sooner this carbon tax and mining tax is gone the better this country will be

Sorry kickinit your claim that we can expect Australia to become a third world country is, quite simply, ridiculous.

[Jimmy_041]

I agree with kickinit

If this Government cannot get the adjustment, get manufacturing going again, and keep moderate wage outcomes and a sensible economic policy, then Australia is basically done for. We will end up being a third rate economy

[kickinit]

Sorry kickinit your claim that we can expect Australia to become a third world country is, quite simply, ridiculous.

So what happens when mines start shutting down? You do know mines only have a certain amount of a life span and seeing there are a fair few to finish in the next couple of years whats going to happen then. Our mining is over unless the government wakes up see what there doing to Australia.

[Gozu]

THE government's efforts to talk up the longevity of the mining boom will be boosted today by an influential report that predicts mining industry investment is still several years away from peaking.

And the report by economic forecaster BIS Shrapnel predicts other sectors of the economy will lift to fill the gap when the mining sector inevitably slows.

http://www.theaustralian.com.au/busines ... 6458477239

[kickinit]

THE government's efforts to talk up the longevity of the mining boom will be boosted today by an influential report that predicts mining industry investment is still several years away from peaking.

And the report by economic forecaster BIS Shrapnel predicts other sectors of the economy will lift to fill the gap when the mining sector inevitably slows.

http://www.theaustralian.com.au/busines ... 6458477239

And we all no how much we can trust this Government. And why did BHP just sell a WA mine? And what other sectors does Australia have?

[Jimmy_041]

THE government's efforts to talk up the longevity of the mining boom will be boosted today by an influential report that predicts mining industry investment is still several years away from peaking.

And the report by economic forecaster BIS Shrapnel predicts other sectors of the economy will lift to fill the gap when the mining sector inevitably slows.

http://www.theaustralian.com.au/busines ... 6458477239

So fish, was Ferguson lying?

[fish]

THE government's efforts to talk up the longevity of the mining boom will be boosted today by an influential report that predicts mining industry investment is still several years away from peaking.

And the report by economic forecaster BIS Shrapnel predicts other sectors of the economy will lift to fill the gap when the mining sector inevitably slows.

http://www.theaustralian.com.au/busines ... 6458477239

So fish, was Ferguson lying?

I suppose time will tell whether the mining boom has peaked or not...

[fish]

Sorry kickinit your claim that we can expect Australia to become a third world country is, quite simply, ridiculous.

So what happens when mines start shutting down? You do know mines only have a certain amount of a life span and seeing there are a fair few to finish in the next couple of years whats going to happen then. Our mining is over unless the government wakes up see what there doing to Australia.

Please let me know when all of Australias mines have closed and/or we have become a third world country.

If either of those happen I will offer my sincere apologies.

[kickinit]

Sorry kickinit your claim that we can expect Australia to become a third world country is, quite simply, ridiculous.

So what happens when mines start shutting down? You do know mines only have a certain amount of a life span and seeing there are a fair few to finish in the next couple of years whats going to happen then. Our mining is over unless the government wakes up see what there doing to Australia.

Please let me know when all of Australias mines have closed and/or we have become a third world country.

If either of those happen I will offer my sincere apologies.

Don't worry it's already happening BHP sell another australian mine, core staff one of the biggest mining contractors have hardly advertised any positions and seeing that they where advertising over 100 jobs a day that's a bad sign, especially seeing I haven't had a text from them in 4 days i was getting about 6 a day from them. I've had 3 guys that have previously work for me ring me this week looking for 2 from WA and 1 from QLD. I rarely get calls from guys I know looking for work once your in the system and worked for a couple of contractors you don't need to call about work you get enough offers from contractors. Everyone at the moment is tightening there budget and really can't afford to be investing too much money into there mines, do you know how quickly it can be for a mine to shut down? I've seen a mine in the NT go from fine to in 6hrs being shut down, all because of a few blown dump truck tyres, at $100,000 a tyre it doesn't take long to blow $1million. And seeing the price of Iron ore is about $130 a tonne plus you put a mining tax on top and a carbon tax on top as well you start to see how many tonne it takes to just replace a few tyres.

[Squids]

I have a plan to save Australia but it might not be too popular with the do-gooders.

It's ike farming but we need to act QUICKLY before someone else does it.

........

And Australia becoming a third world country?

There is always that thing we have plenty of, starts with a U.

[Psyber]

I'm not sure who to believe yet - the "boomers" or the "busters" - so I'm just watching for now.

As for the "U." Squids mentioned...
There is an ongoing market for that but it may dwindle as safer Thorium technology grows.
Fortunately, we have plenty of that too.

[kickinit]

I'm not sure who to believe yet - the "boomers" or the "busters" - so I'm just watching for now.

As for the "U." Squids mentioned...
There is an ongoing market for that but it may dwindle as safer Thorium technology grows.
Fortunately, we have plenty of that too.

Australian mining is far from reaching its peak and we should be just seeing a boom. The problem is its just not viable to invest into Australian mining. And the other problem we have now is mines that only have 1 or 2 years left are going to be shut down earlier if they have to spend too much money to keep it going. A mine site can pretty easy go through $1-2 million in a shift. And it's not just the people it hurts that work for the mine, just think what would happen to roxby downs if Olympic dam shut down.

[scoob]

http://www.abc.net.au/news/2012-09-04/f ... ll/4241848

Fortescue Metals is delaying $US1.6 billion in expansion plans and says it is cutting several hundred jobs in the process.

[Q.]

So the beloved darling of you neo-cons thinks we're overpaid. Does two bucks a day sound about right for the mining magnate nuthuggers?