Iron Ore $119 USD per tonne. How will this affect GST income and WA?

I agree i would love investment rather than a tax cut.

 

Me too! Taking $ from the good times and investing in things that permanently improve some combination of lifestyle, environment, efficiency, economy etc seems like it makes great sense especially in a land of droughts and flooding rains. Snowy Hydro 2.0 and other pumped hydro projects would be examples where very real long term (10-50+yrs) environmental gains can be combined with (1-10yr) economic activity that creates jobs during construction and keeps power prices lower for decades, lots to like about investing in those kinds of projects when big windfall profits from iron ore or coal price spikes come in I think. Transport is always going to be worth considering, health/hospitals too, and then tech and new R&D are the things I would really love to see Oz leading in.

 

My falcon on LPG with blow the doors off your commodore

 

Brazil Vale's issues are assisting Australia's iron ore price

Here's 20 Billion spent by China



400,000 tonnes of steel, enough to build 60 Eiffel Towers.

 

World's longest sea crossing: Hong Kong-Zhuhai bridge opens

 

China has squandered billions on shoddy infrastructure, and ghost towns. I am not sure that using a Communist dictatorship as the model for prudent government spending is really the way to go.

The irony is that this is a bridge to prosperous HK, where people from the mainland are fleeing to. HK tax rates are much lower than ours.

Gotta go with the tax cuts, and push spend decisions back to the private sector which makes decisions rationally.

 

Wouldn't call it squandered. They have over a billion people to look after and a rising middle class. The biggest migration in generations as the country becomes more industrialised and people move into cities. It takes time for all this to get built but it will get used.

At least they can plan more than 3 years ahead...

Private sector has its place in infrastructure but govt should be able to dictate priorities of projects and have the business cases proved up etc

 

Vale on Brucutu mine operations

I wander if the June 16th decision was upheld and this Vale mine is now reopen.

How long will it take to re-establish supply?

Will this damage any relationships with Chinies mills?

Did Australian suppliers sign more deals to protect Australian supply?

 

I didn't realize Coal overtook iron as the largest exported commodity.

 

What are we talking? An FG Falcon. I'll rip out the back seats of my commodore to improve the weight/power ratio if I have to.

 

Believe opposite as to what the greens and leftist media claims! With out coal the modern world would not exist now or future. The world export and consumption levels back this up & the amount of new projects, expansion and exploration going on in Central Queensland along backs this up as well

 

Good thread, but this is not the mining boom driven by demand from China.....

Is the iron ore boom really different this time?

...... Ask yourself Why is Perth still feeling the pain, business’ closing shop and property still going south????

 

We will have to wait another two years and hope for a change of state government for Perth to recover. The current state government's policies have strangled the economy, and despite his election promise of creating 100000 new jobs in WA, the unemployment rate has increased since McGowan became Premier.

 

If coal is so great why did we stop using it as a heating source in home heaters many many years ago.
The great thing about exporting it to other countries is we can turn a blind eye to the effects and causes of burning coal.

Great Smog of London - Wikipedia

"Mortality remained elevated for months after the fog. A preliminary report, never finalised, blamed those deaths on an influenza epidemic.[3] Emerging evidence revealed that only a fraction of the deaths could be from influenza.[18] Most of the deaths were caused by respiratory tract infections, from hypoxia and as a result of mechanical obstruction of the air passages by pus arising from lung infections caused by the smog.[19][20][21] The lung infections were mainly bronchopneumonia or acute purulent bronchitis superimposed upon chronic bronchitis.[22][23]"

"More recent research suggests that the number of fatalities was considerably greater than contemporary estimates, at about 12,000.[3][24]"

 

..... but Perth has been feeling the pain since 2007, this is 12 years Of gloom, we cant exactly blame McGowan for this

 

He is certainly not helping. After promising 100K jobs (just one of WA Labor's many moronic arbitrary round-number based slogan-policies from the last election) and delivering zero, I don't really feel he should be cut any slack.
I still can't get over the crazy foreign investor tax...

 

EF XR6 and its a weapon not really actually but a good thrasher and helps me blend in the druie

 

Perth property pretty well set us up for life , sold an IP in 2007 and bought into where I lived in the early and mid 90s in NSW in 2009(eventually will be our retirement property and is now paid off.
One the main problems is to many people got caught up in what happened from 2003-2007 and all piled in , it was also the first capital city in Australia to go really hard on IO loans.
Well over 10 years later many had never even touched the principle of the loan and many areas have gone absolutely no where.
No shortage of people that were also still paying off big loans on the PPOR at the same time.
Big mining booms generally always have hard landings as people move on once the well paying jobs dissappear.
Blaming government is a bit rich since many can not even pay of their debt.
Simple fact is many IO investors cannot hold long term.(10 year +++)
Those that simply dont have the finances and those that consider it a dud investment so more and more property are continually added to the For Sale market..
Althoght those numbers are starting to come down pretty quickly from the highs above 17,000.
Incidentally around 2013 or possibly 2014 those numbers were down around 9000-10,000
,although rental stock has gone nowwhere for a while..
But there is light at the end of the tunnel.
or maybe just anothet guy with a torch,again.

 

Good for you


Between 2001-2007 was the mother of all booms in Perth and if you leveraged and got out prior to peak in 2007 you would have made a killing. We did this and we kept some too that we wish we had offloaded

It was also the days when lo doc and no doc were available. When your broker told you how much you needed to earn and sign on the dotted line, the good old days
The days when you just kept buying as equity was growing

In 2013-14 boom again in Perth, however the high end markets did not move and still not recovered from the peak of 2007

I am a huge fan of diversifying and buying in other states, this has allowed me to continue to grow capital, if I kept all my eggs in one basket I would still be in my day job

 

The terrifying moment the dam collapsed