# Clive Palmer Coal



## Garpal Gumnut (7 February 2010)

I wonder if this is the generator that will get Queensland back it's AAA Rating.

Clive has made a deal worth $70 billion with the Chinese for coal from the Alpha and Galilee Basins.

What a great guy.

Any plays in this area worthwhile looking out for?

gg


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## awg (7 February 2010)

LNC has tenement for sale in Galilee

check the LNC thread, here and HC, especially MC vs NAV

Palmer does not appear to be a serious suitor atm though.

It seems inconceivable that it wont sell, time and price the only question.


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## Aussiejeff (8 February 2010)

Good luck, Clive (& bananabenders in general, having once been one for 6 years!).

However, this gushing prediction of at least 20 years of certain uber-prosperity for Clive & QLD is only likely....

[size=+4]IF[/size] China/India can remain politically stable over the next 20 years,

and,

[size=+4]IF[/size] China/India cannot find cheaper alternate suppliers of coal at any time within the next 20 years,

and,

[size=+4]IF[/size] China/India can sustain their unsustainable growth rates over the next 20 years, 

and,

[size=+4]IF[/size] China/India do not have any major natural disasters that significantly dampen their economies at any time during the next 20 years.

Those are 4 BIG if's to start with...... so best of luck with the big dream - I admire the degree of optimism needed to be _so certain of the outcome_ over a 20 year timeframe!


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## Purple XS2 (8 February 2010)

To the aforementioned big ifs, allow me to add a very small if, the if that dare not speak its name:

_if_ there is no action on the part of importer or exporter to curtail extraction and consumption of fossil fuels, in order to reduce atmospheric CO2.

The idea that Australia would curtail such a miracle as the Palmer Coal contract is of course, heresy. Being an heretic myself, you're welcome to go ahead and flame me.

The point I wish to make here is: Go or No-Go decisions on operations like Palmer Coal is precisely the crunch-point that distinguishes those who would stake their political flag on global warming (The Greens, maybe some others) and those for whom global warming us merely a political football of occasional convenience (the Federal ALP government).

Up till the last few days I had a certain respect for Penny Wong, but unless she expresses at least _something_ on expanding Coal exports, she's lost it.


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## Miner (8 February 2010)

Aussiejeff said:


> Good luck, Clive (& bananabenders in general, having once been one for 6 years!).
> 
> However, this gushing prediction of at least 20 years of certain uber-prosperity for Clive & QLD is only likely....
> 
> ...





You have missed out few IFs.

IF Clive Palmer remained active in doing the business
IF the readers will open this thread in next 20 years
IF ASF is not bought out by some operators like Macquarie and likes or Joe decided to call it a DAY and becomes a full fledged stock broking agency himself
IF there is not another world war in real economic terms consider Nostrum did say that the yellow people will take over the world. 
IF Australia is not becoming another state of China (do not be surprised the way we are dependant on every penny from China and got our Minister Penny Wong to look after environment)
Just adding bit of spice and thanks for few IFs.
However one thing for sure CHina and India have been there for more than 10 000 years and will remain so.
China and India used to be friends and then turned foes following 1962 war. They are friendly but when business comes they are worse than enemies .


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## brty (8 February 2010)

The deal is $US60b, meaning that the coal is priced in $US, like virtually all commodities at present.

Does any one else see a potential problem down the track if the $US falls over?? China will have bought up all sorts of commodities all over the world, then profit from cheap imports if/when The $US goes down. Then all us bunnies who sold in $US will be worse off as we receive devalued currency for our exports.

Also this type of deal just proves that those in power are only playing lip service to climate change, they don't think there is a problem in their short political career time frame, which is why we all have to hope it really doesn't exist, as those in power will do bugger all until it is too late.

brty


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## noirua (8 February 2010)

A very interesting exercise here in QLD that looks to have the Federal Governments stamp of approval. Big bucks al-round if everything falls into place. In the end though it is just a dig it out and sell it coal exercise with Chinese involvement likely to be very heavy.
Resource House, that's part of a $3 billion float in Hong Kong, owns China First.  MCC owns 10% of Resource House with a 4% commission on coal sales. China First expect coal sales at around 40 mtpa. 
Providing coal prices don't crash then this is another Aussie China financial success, although the Greens and Greenpeace will have another black smokey matter to try and prevent.


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