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Offline amgsl55

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Iron ore and coal at $200p/t plus high oil prices is the only way we will ever go back to the good old days.

none of that will happen in the short term



Offline shack

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Iron ore and coal at $200p/t plus high oil prices is the only way we will ever go back to the good old days.

Those days are over. While we were giving people $900 each the Chinese were "investing" (doing deals with despots) in Africa and now have their own resources.



Online Fil-Ski


  • Joined: Feb 2009

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Those days are over. While we were giving people $900 each the Chinese were "investing" (doing deals with despots) in Africa and now have their own resources.
I think many of the African mines never got off the ground. I'm thinking Sundance Resources and a few others in particular.
The problem with Africa apart from Africa itself are the huge infrastructure costs to get these mines going. Unless we have long-term high prices the deposits will remain beneath the ground.



Offline amgsl55

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I think many of the African mines never got off the ground. I'm thinking Sundance Resources and a few others in particular.
The problem with Africa apart from Africa itself are the huge infrastructure costs to get these mines going. Unless we have long-term high prices the deposits will remain beneath the ground.

also low quality ore

so the chinese will blend it with aussie or brazilian ore



Offline shack

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Until they buy a mine with the correct ore

This is only iron ore but they have invested in many other minerals in Africa



Offline anotherforumuser

  • AE's voice of reason
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Only when Scud becomes PM will we have a leader that gives two thumbs up at a time like this.
https://66.media.tumblr.com/17ca8986113b2a24bd3665b8042ad67c/tumblr_mz08wk6VzX1rizambo1_400.gif

 :scud4pm

<a href="http://www.youtube.com/watch?v=n1v2wpD3cbs" target="_blank">http://www.youtube.com/watch?v=n1v2wpD3cbs</a>



Offline scud

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SA government putting in their own bank tax.  :thumbsdown:

This country is going down the tubes fast.



Offline amgsl55

  • Tooth hurty

  • Joined: Feb 2011

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SA government putting in their own bank tax.  :thumbsdown:

This country is going down the tubes fast.

our treasurer presented a budget to stimulate employment growth.....but he's done that for several years now, and the growth is negative

As for the bank tax, and to think he'll legislate that it can't be passed on to consumers, gimme a break.  loan interest rates in SA will likely increase.

This is the treasurer who had about $10k worth of traffic fines that he blamed others, and he became the transport minister.



Online Steve.


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In response to the current energy price crisis and impending gas crunch, the powers that be have decided to conduct a review of several South-East Australia geological basins: https://www.industry.gov.au/resource/UpstreamPetroleum/OffshorePetroleumDevelopment/Pages/SEGasSupplyStudy.aspx

"The Department of Industry, Innovation and Science will oversee the Study, with much of the information and data being provided by the National Offshore Petroleum Titles Administrator (NOPTA), with assistance from Geoscience Australia. The Victorian and Tasmanian Governments will be key stakeholders and consulted throughout."

Sounds good, right?

"The Study will be delivered to the Australian Government Minister for Resources and Northern Australia by the end of August 2017."

Oh no! They've given themselves a two-month timeframe. That's not enough time to conduct any new work, so the report will basically be a rehash of various bits and pieces of information currently held by various state and federal agencies, but they won't have enough time or inclination to do anything meaningful.

For close to fifty years, my family have made our living from dealing in petroleum exploration information. We hold higher quality data - and more of it - than any government agency in Australia and as far as we can tell, any other privately managed data archive pertaining to the region.

We have a long history of work with the state governments, the Federal Government, the energy industry, and high-level ministerial awareness of what we do and how our data is of fundamental importance to widespread geological studies, let alone exploration and production, but the silence from them has been deafening. They could have most of the data they need to actually complete this study in a meaningful manner, in workstation ready format, within an hour of buying it from us. Geoscience Australia could try to do it themselves, but it's taken them fifty years to catch up to us and they haven't succeeded so what's the hope they could do it within two months? We caught them stealing from us a while ago and now they don't want to deal with us at all, unless there's no other option.

I have it on very good authority that very senior NERA officials, National Energy Resources Australia, one of the Australian Government's Industry Growth Centres Initiatives, was unaware of the review until after the announcement was made.

If it weren't such a sad indictment of the complete incompetence and the dysfunctional state of Australian politics and policy regarding energy, resources, and ability to collaborate for the benefit of all Australians, it would be funny. But all that's going to happen is that consumers will continue to get screwed on energy prices and security, money will be wasted writing reports or other pointless endeavours, and nothing will change.



Offline amgsl55

  • Tooth hurty

  • Joined: Feb 2011

  • Location: Adelaide
State Budget 2017-18: OneFortyOne Plantations profits jump four-fold after buying from SA Government

THE company that bought South Australia’s forests five years ago for a price criticised as too cheap is making four times the profits generated under government management.

The then treasurer Jack Snelling oversaw the controversial sale of Forestry SA to OneFortyOne Plantations in 2012 for “a very impressive offer” of $670 million.

But documents lodged with the financial regulator show the new owner has been generating annual profits as high as $125.5 million.

At that rate it will have paid off its purchase price by mid-2019, with the forestry firm owning the harvesting rights for three rotations, potentially equating to the next 100 years.


Forestry SA was sold in 2012 for “a very impressive offer” of $670 million. Picture: Naomi Jellicoe
The dividend paid to the State Government from the years 2005-06 until 2008-09 averaged only $26.87 million.

The sale was heavily criticised at the time, with the State Opposition, then Family First MP Robert Brokenshire and Senator Nick Xenophon all saying the asset had been sold off too cheaply.

Former Rann government forestry minister Rory McEwen said at the time the decision to sell the harvesting rights was driven by “zealots” in Treasury.

Mr Brokenshire, now a member of the Australian Conservatives, said at the time the harvesting rights had been undersold by at least $230 million, based on the value of the land.

Timber workers also strongly criticised the sale at the time, with CFMEU members storming the state administration building in protest.

Former Forestry SA chairman John Ross said before the sale there was extremely limited consultation by the Government. Forestry SA minutes showed the board believed the forests in the state’s southeast were being significantly undervalued, The Advertiser reported.


Robert Brokenshire said the harvesting rights had been undersold by at least $230 million.
Mr Brokenshire said yesterday the Forestry SA sale was a Weatherill Government move to try to prop up its ailing Budget bottom line.

“I was critical of it being, one, sold at all, secondly that it was sold well under it’s true value, and thirdly it was sold for short-term expedient gain for the Labor Government without considering the long-term, benefits to both annual returns from Forestry SA’s asset in the southeast but also the security of our timber supply,” he said.

“They said that forestry was in decline. We could have had that ­return every year going into general revenue and still owned the asset.

“The Weatherill Government was after some short-term gain to stimulate marginal seats in the Adelaide area at the time prior to the (2012) election. They were grossly irresponsible.”

Opposition spokesman for primary industries and the regions David Ridgway said it was another example of “abject financial mismanagement”.

“The Weatherill Government sold the forests for a song and South Australian taxpayers are paying a heavy price,” he said.

“South Australian taxpayers are now missing out on $100 million each year, money that could be used to cut the Emergency Services Levy tax or invested in our struggling schools and hospitals.

Treasurer Tom Koutsantonis reiterated yesterday the sale of Forestry SA was a “very good result for the state’’.

“It is not appropriate to compare management of the assets as the private sector generally strives for certain cost efficiencies and sales revenues in a different way than a business run by the Government.

“That was part of the rationale for selling these assets and should not be seen as Forestry SA being poorly run. The key consideration is the sales price exceeded a properly constructed reserve price for the state retaining the business into the future.’’




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