The state of the economy at the street level

[Smurf1976]

mines at Mt Keith and Leinster

I'd wondered what was mined there. Now I know - nickel.

an early Federal election will be on the cards IMO

I've heard rumours to that effect and judging by the political junk mail I'm receiving the parties seem to be preparing too.

 

[sptrawler]

I'd wondered what was mined there. Now I know - nickel.


I've heard rumours to that effect and judging by the political junk mail I'm receiving the parties seem to be preparing too.

My guess is there will be cost based analysis being run over lithium and bauxite also.

There is a battery grade nickel processing plant at Kwinana, two lithium hydroxide plants close by and we talk about a made in Australia battery manufacturing industry, obviously not.
Or as some would say Yeahh Nah.

As for an early election, well the indicators are pointing toward stormy weather, as another poster who banned me would say.

 

[farmerge]

I'd wondered what was mined there. Now I know - nickel.


I've heard rumours to that effect and judging by the political junk mail I'm receiving the parties seem to be preparing too.

Caught a bit on the arvo news as I walked in the door. BHP putting on ice Kwinana refinery and the Kambalda smelter. Mt Keith is moth balled into care and maintenance.
Indonesian nickel apparently swamping the market at below "mate's rates".

 

[sptrawler]

Caught a bit on the arvo news as I walked in the door. BHP putting on ice Kwinana refinery and the Kambalda smelter. Mt Keith is moth balled into care and maintenance.
Indonesian nickel apparently swamping the market at below "mate's rates".

The big issue is, nickel has been a huge employment and income base for the goldfields since 1965, this is huge IMO.
Kalgoorlie, Kambalda, Menzies, Leonora, Laverton, Leinster, Agnew, Forestonia.

Then add to that the fact that the mid west iron ore is shutting down, which affects Sothern Cross and Merredin and it is getting BIG.

West Australian (WA) iron ore mining firm Mineral Resources (MinRes) will stop shipping from its lower grade Yilgarn operations by 31 December and transfer staff to its Onslow project in the Pilbara. The 8mn t/yr Yilgarn in the Mid West region of WA is not financially viable beyond the end of 2024, according to MinRes.

 

[farmerge]

The big issue is, nickel has been a huge employment and income base for the goldfields, this is huge IMO.

The news item did mention job losses but I couldn't recall the correct number.
For as long as I can remember Kambalda has had a on and off life span.

 

[sptrawler]

The news item did mention job losses but I couldn't recall the correct number.
For as long as I can remember Kambalda has had a on and off life span.

Yes I have a soft spot for Kambalda, went there in 2nd year high school, when it first opened up the old man became one of the original supervisors.
Started my apprenticeship there.

 

[divs4ever]

Caught a bit on the arvo news as I walked in the door. BHP putting on ice Kwinana refinery and the Kambalda smelter. Mt Keith is moth balled into care and maintenance.
Indonesian nickel apparently swamping the market at below "mate's rates".

and that looks like good news for me

i hold NIC and ATM ( as well as BHP and a beneficiary of BHP acquiring OZL )

and why not, no crazy regulations about using coal to fire the pig-iron smelters in Indonesia

 

[sptrawler]

and that looks like good news for me

i hold NIC and ATM ( as well as BHP and a beneficiary of BHP acquiring OZL )

and why not, no crazy regulations about using coal to fire the pig-iron smelters in Indonesia

Won't be long and they will be processing the bauxite there IMO, just needs China to install the refinery next to the coal fired stations powering the nickel refineries and use the waste steam. Easy peazy an absolute no brainer

The good thing is, we can sell the thermal coal for the power stations.

We just have to learn how to power everything with smugness and we will kill it.

 

[qldfrog]

Won't be long and they will be processing the bauxite there IMO, just needs China to install the refinery next to the coal fired stations powering the nickel refineries and use the waste steam. Easy peazy an absolute no brainer

The good thing is, we can sell the thermal coal for the power stations.

As for IO, Africa chinese managed mines are coming

 

[divs4ever]

Won't be long and they will be processing the bauxite there IMO, just needs China to install the refinery next to the coal fired stations powering the nickel refineries and use the waste steam. Easy peazy an absolute no brainer

The good thing is, we can sell the thermal coal for the power stations.

Indonesia mines it's own ( thermal coal )

part of the reason the Government instituted the 'value adding mandate ' to create a more 'ground up ' export base ( and local jobs )

i didn't think BHP and the Australian Government would be this helpful for me

 

[sptrawler]

Indonesia mines it's own ( thermal coal )

part of the reason the Government instituted the 'value adding mandate ' to create a more 'ground up ' export base ( and local jobs )

i didn't think BHP and the Australian Government would be this helpful for me

Maybe we can make them Bintang tee shirts, made by university degree tailors.

 

[mullokintyre]

Just got my Insurance bill for house and contents.
$5,000 bucks!
Its gone up by $1450 since last year.
According to the insurance company, it will cost an extra $80,000 to rebuild my house this year compared to last year.
But the part that really pisses my off is that stamp duty (a state tax) and GST have added $874 onto the insurance bill.
The stamp duty is calculated on the amount after GST is added.
And to top it off I just had the bloody Jehov'as witnesses knocking on my door.
Not having a good day today.
Mick

 

[Chipp]

Just got my Insurance bill for house and contents.
$5,000 bucks!
Its gone up by $1450 since last year.
According to the insurance company, it will cost an extra $80,000 to rebuild my house this year compared to last year.
But the part that really pisses my off is that stamp duty (a state tax) and GST have added $874 onto the insurance bill.
The stamp duty is calculated on the amount after GST is added.
And to top it off I just had the bloody Jehov'as witnesses knocking on my door.
Not having a good day today.
Mick

If you live in an area that will never flood get an insurance policy with no flood cover , I did that this year and saved $1200 right there . Biggest scam ever insurance companies specifying flood cover as a standard inclusion for those living on a hill that has zero chance of flooding unless its end of times .. standard insurance covers water damage from storm water and storm damage

 

[dyna]

The late Charlie Munger had the right idea re : house insurance .
Why fork out for all the insurance frauds and other folk's carelessness with candles and their ankle biters playing with matches ?

Charlie decided early on , to get rich and then " self insure " .
He took the risk and never got burned with premiums !
Brave , you've gotta say.......but .

 

[JohnDe]

The late Charlie Munger had the right idea re : house insurance .
Why fork out for all the insurance frauds and other folk's carelessness with candles and their ankle biters playing with matches ?

Charlie decided early on , to get rich and then " self insure " .
He took the risk and never got burned with premiums !
Brave , you've gotta say.......but .

And one of his big investments is insurance companies.

When I was a young man a friend who is an accountant told me to forget about health insurance, and instead put the fee into an investment account, but if you're not disciplined keep the insurance.

I've been thinking about dropping the building insurance and just having contents insurance.

 

[divs4ever]

If you live in an area that will never flood get an insurance policy with no flood cover , I did that this year and saved $1200 right there . Biggest scam ever insurance companies specifying flood cover as a standard inclusion for those living on a hill that has zero chance of flooding unless its end of times .. standard insurance covers water damage from storm water and storm damage

LOL

if this residence gets flooded the head office in Brisbane will be with Davey Jones' locker

this place is well over 600 feet above sea level ( probably closer to 1000 feet )

i doubt they will be answering the phone when i try to make a claim ( on the flood insurance )

 

[Chipp]

LOL

if this residence gets flooded the head office in Brisbane will be with Davey Jones' locker

this place is well over 600 feet above sea level ( probably closer to 1000 feet )

i doubt they will be answering the phone when i try to make a claim ( on the flood insurance )

Much the same i live at an altitiude where if i was flooded maybe the tops of the 4-5 tallest building in brisbane would be above water and i live within 10km of cbd . Thing is i was effectively paying for flood insurance i had zero chance of ever claiming on for 20 years , now my eyes are open and spreading the word . Probably 20k down the drain in that time

 

[divs4ever]

currently live on the Western side of The Great Divide ( dividing range ) so even most tsunamis will be uneventful ( for me )

bizarrely the hotel deal ( in the village ) fell through because we couldn't get insurance , on a historic sandstone building ( for FFS )

i hold QBE , IAG , SUN and TWR .. own ( part of ) the business avoid being a customer where prudent

 

[qldfrog]

If you live in an area that will never flood get an insurance policy with no flood cover , I did that this year and saved $1200 right there . Biggest scam ever insurance companies specifying flood cover as a standard inclusion for those living on a hill that has zero chance of flooding unless its end of times .. standard insurance covers water damage from storm water and storm damage

We should try that, thanks

 

[qldfrog]

And one of his big investments is insurance companies.

When I was a young man a friend who is an accountant told me to forget about health insurance, and instead put the fee into an investment account, but if you're not disciplined keep the insurance.

I've been thinking about dropping the building insurance and just having contents insurance.

Fire can hit you from short curcuit, battery, etc i try to get as high an excess as we do not claim nilly willy