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VERYSTORMY

Interesting article on cost of living

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Yep, there are several African projects that have turned into a disaster - Barrick is a shining example. But, there are a lot more that are doing very well. Which doesnt surprise me. The way the state and federal governments behave to the industry, you would think they dont want any mining in Oz.

 

Give you a classic example. I was on a project being developed in WA. We needed to put a road in for 300 km, maily for access during construction until an airport. Then would not be used. The hassle we received in permissons was incredible. Then, we were informed that it would be deemed a public road and we would have to pay to maintain in for the next 20 years.

 

My current project is going to need a 200km road. So, the government will pay for 100km and us the other. They will maintain it all. I met with the minister for mines last month. His comment was clear. Tanzania is open for "business."

 

I think BHP's budget for the new financial year say it all for Oz. Budget for exploration in Oz = 0

 

Or Newcrest, Australias biggest gold miner. I qoute the CEO. "Newcrest will not spend any money in capital in australia again".

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Yep, there are several African projects that have turned into a disaster - Barrick is a shining example. But, there are a lot more that are doing very well. Which doesnt surprise me. The way the state and federal governments behave to the industry, you would think they dont want any mining in Oz.

 

Give you a classic example. I was on a project being developed in WA. We needed to put a road in for 300 km, maily for access during construction until an airport. Then would not be used. The hassle we received in permissons was incredible. Then, we were informed that it would be deemed a public road and we would have to pay to maintain in for the next 20 years.

 

My current project is going to need a 200km road. So, the government will pay for 100km and us the other. They will maintain it all. I met with the minister for mines last month. His comment was clear. Tanzania is open for "business."

 

I think BHP's budget for the new financial year say it all for Oz. Budget for exploration in Oz = 0

 

Or Newcrest, Australias biggest gold miner. I qoute the CEO. "Newcrest will not spend any money in capital in australia again".

 

I know what you mean VS. I am with you on the red tape, delays, money that has to be paid to the "rightful owners", for them to squabble amongst themselves for a year or 2, then demand compensation when it all falls in a heap.

 

Don't know what the answer is but someone will have to sort it out, hopefully sooner rather than later. I'm sure if the Chinese do manage to get a foot hold they won't be putting up with rules and regulations. The government will change a few rules for them.

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The Chinese are certainly still into resources. But i do think they as well are now looking much closer at Africa - the plane from Duabi to Dar es Salaam is about half chinese these days.

I went to a nice little resort last week in Dar for an evening (its near the office and appartment where we stay when there) Place was packed with chinese hitting the casino.

I know that a month ago, the entire cabinet, led by the president of Tanzania were in China - they were on my flight.

 

It makes sense to them. There is not the hostility they face in Oz for buying up projects and and developing a project here is a fraction of the cost of in Oz and haven lived and worked in China, i know that they are very shrewed business men who like to do as much as possible as cheaply as possible

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Gambling is illegal in China so that is the attraction there. In Australia it is hard to win money at gambling- the house takes too much. A lot of Chinese people are buying up Australian houses- just wander round the Melbourne subs. They pay over the odds to make sure they get the houses. Glen Waverley is one such area. Whatever a local bids on a house, they will top it.

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I agree, there's a lot of people who go overboard with the spending. When you get to Aus you should be saving if only a small amount and maybe buy second hand for a while. I was shocked at the prices in NSW and some parts of WA are way pricier

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