Feeling that it's now not worth the risk
Sep 16th 2012, 5:34 am
#46
Forum Regular
Joined: Aug 2011
Posts: 72
Re: Feeling that it's now not worth the risk
Have you heard of the Olympic Dam project, which was recently shelved in South Australia? They took so many years to prepare for that project but all of a sudden, it was shelved last month.
Interesting to note that the project was shelved because the project managers feel the resources boom has peaked and it wouldn't be cost effective to continue:
The Olympic Dam decision is a symbolic moment in the decline of the resources boom, as it would have been the biggest open cut mine in the world and took seven years of painstaking work through design and approvals.
The decision is a major blow to South Australia, which had expected the Olympic Dam expansion to deliver a huge boost in jobs and a royalty stream of about $350 million a year for decades.
http://www.smh.com.au/business/olymp...822-24mvy.html
Interesting to note that the project was shelved because the project managers feel the resources boom has peaked and it wouldn't be cost effective to continue:
The Olympic Dam decision is a symbolic moment in the decline of the resources boom, as it would have been the biggest open cut mine in the world and took seven years of painstaking work through design and approvals.
The decision is a major blow to South Australia, which had expected the Olympic Dam expansion to deliver a huge boost in jobs and a royalty stream of about $350 million a year for decades.
http://www.smh.com.au/business/olymp...822-24mvy.html
Sep 16th 2012, 6:12 am
#47
Just Joined
Joined: Jul 2012
Posts: 29
Re: Feeling that it's now not worth the risk
It is a really bad time to be considering moving to Australia at the moment, there is absolutely no doubt that unemployment will rise, possibly dramatically, in the months/years to come. The economy is being almost totally supported by mining and employment in that sector is dropping across the board. Personally I would sit tight and see how it pans out.
Sep 16th 2012, 9:24 am
#48
Banned
Joined: Jul 2012
Posts: 3,300
Re: Feeling that it's now not worth the risk
Have you heard of the Olympic Dam project, which was recently shelved in South Australia? They took so many years to prepare for that project but all of a sudden, it was shelved last month.
Interesting to note that the project was shelved because the project managers feel the resources boom has peaked and it wouldn't be cost effective to continue:
The Olympic Dam decision is a symbolic moment in the decline of the resources boom, as it would have been the biggest open cut mine in the world and took seven years of painstaking work through design and approvals.
The decision is a major blow to South Australia, which had expected the Olympic Dam expansion to deliver a huge boost in jobs and a royalty stream of about $350 million a year for decades.
http://www.smh.com.au/business/olymp...822-24mvy.html
Interesting to note that the project was shelved because the project managers feel the resources boom has peaked and it wouldn't be cost effective to continue:
The Olympic Dam decision is a symbolic moment in the decline of the resources boom, as it would have been the biggest open cut mine in the world and took seven years of painstaking work through design and approvals.
The decision is a major blow to South Australia, which had expected the Olympic Dam expansion to deliver a huge boost in jobs and a royalty stream of about $350 million a year for decades.
http://www.smh.com.au/business/olymp...822-24mvy.html
Sep 16th 2012, 9:38 am
#49
Lost in BE Cyberspace
Joined: Dec 2010
Posts: 14,040
Re: Feeling that it's now not worth the risk
Sep 16th 2012, 9:54 am
#50
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Joined: Aug 2012
Location: Portsmouth, well I went there once, I think, and Australia
Posts: 91
Sep 16th 2012, 10:46 am
#52
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Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: Feeling that it's now not worth the risk
Sep 16th 2012, 3:13 pm
#53
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Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: Feeling that it's now not worth the risk
Not exactly true, Brazil and various African countries have huge amounts of natural resources without the high labour costs so another boom isnt guaranteed.
Sep 16th 2012, 11:39 pm
#55
Lost in BE Cyberspace
Joined: Dec 2010
Posts: 14,040
Re: Feeling that it's now not worth the risk
It's totally inappropriate the make this statement along with your mining statement without a crystal ball, backup or fact.
I get a strong feeling to say this "stuff" just to reassure yourself that you move back to the UK was the right one and you are not totally convinced yourself.
Sep 18th 2012, 11:58 pm
#56
Crazy Cat Lady
Joined: Apr 2004
Posts: 65,493
Re: Feeling that it's now not worth the risk
Who, where and when please? I can only assume you've slipped back 10 years and believe you're posting through Usenet.
Sep 19th 2012, 6:50 am
#57
BE Forum Addict
Joined: Nov 2007
Location: Scotland
Posts: 3,337
Re: Feeling that it's now not worth the risk
Actually, i will disagree there. There are good few African countries that have excellent mining infrastructure and are now becoming to be regarded as lower soverign risk than Oz. Because of the way the federal and state goverments have behaved in the last few years, Oz is developing a very bad name for itself in the industry.
I have worked in several African countries as well as South America and Asia. All with the exception of the Congo (DRC) were excellent for mining. The geology is highly prospective, it hasnt been already explored, supportive goverments and safe environments.
Hence why WA based juniors are giving up ground at a rapid rate of knotts. Drilling companies are laying off drillers big time. But a lot of the same countries are now taking projects in other countries. Its not difficult to see why. You have a $5 mill drill budget, do you spend it in WA at $400 per meter or Africa at $130 a meter.
I have worked in several African countries as well as South America and Asia. All with the exception of the Congo (DRC) were excellent for mining. The geology is highly prospective, it hasnt been already explored, supportive goverments and safe environments.
Hence why WA based juniors are giving up ground at a rapid rate of knotts. Drilling companies are laying off drillers big time. But a lot of the same countries are now taking projects in other countries. Its not difficult to see why. You have a $5 mill drill budget, do you spend it in WA at $400 per meter or Africa at $130 a meter.
Sep 19th 2012, 7:06 am
#58
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: Feeling that it's now not worth the risk
Actually, i will disagree there. There are good few African countries that have excellent mining infrastructure and are now becoming to be regarded as lower soverign risk than Oz. Because of the way the federal and state goverments have behaved in the last few years, Oz is developing a very bad name for itself in the industry.
I have worked in several African countries as well as South America and Asia. All with the exception of the Congo (DRC) were excellent for mining. The geology is highly prospective, it hasnt been already explored, supportive goverments and safe environments.
Hence why WA based juniors are giving up ground at a rapid rate of knotts. Drilling companies are laying off drillers big time. But a lot of the same countries are now taking projects in other countries. Its not difficult to see why. You have a $5 mill drill budget, do you spend it in WA at $400 per meter or Africa at $130 a meter.
I have worked in several African countries as well as South America and Asia. All with the exception of the Congo (DRC) were excellent for mining. The geology is highly prospective, it hasnt been already explored, supportive goverments and safe environments.
Hence why WA based juniors are giving up ground at a rapid rate of knotts. Drilling companies are laying off drillers big time. But a lot of the same countries are now taking projects in other countries. Its not difficult to see why. You have a $5 mill drill budget, do you spend it in WA at $400 per meter or Africa at $130 a meter.
There is also the threat of nationalisation (one of the reasons that the project scope has been scaled back), regime change aka military coup and general 3rd world issues.
Sep 19th 2012, 7:21 am
#59
Banned
Joined: Jan 2011
Location: The REAL Utopia.
Posts: 9,910
Re: Feeling that it's now not worth the risk
The problem is that many just lump every country together and think of them as one big country when in fact they are all different.
Actually, i will disagree there. There are good few African countries that have excellent mining infrastructure and are now becoming to be regarded as lower soverign risk than Oz. Because of the way the federal and state goverments have behaved in the last few years, Oz is developing a very bad name for itself in the industry.
I have worked in several African countries as well as South America and Asia. All with the exception of the Congo (DRC) were excellent for mining. The geology is highly prospective, it hasnt been already explored, supportive goverments and safe environments.
Hence why WA based juniors are giving up ground at a rapid rate of knotts. Drilling companies are laying off drillers big time. But a lot of the same countries are now taking projects in other countries. Its not difficult to see why. You have a $5 mill drill budget, do you spend it in WA at $400 per meter or Africa at $130 a meter.
I have worked in several African countries as well as South America and Asia. All with the exception of the Congo (DRC) were excellent for mining. The geology is highly prospective, it hasnt been already explored, supportive goverments and safe environments.
Hence why WA based juniors are giving up ground at a rapid rate of knotts. Drilling companies are laying off drillers big time. But a lot of the same countries are now taking projects in other countries. Its not difficult to see why. You have a $5 mill drill budget, do you spend it in WA at $400 per meter or Africa at $130 a meter.
