Category Archives: Mining

Don’t expect Cape York coal mining any time soon

Posted on August 18, 2011 by Gene Tunny

Cairns-based economics/finance commentator KS has a great post questioning the Cape York coal rush reported in the Australian today. KS notes: Many in the Far North may not be aware that there are coal deposits on Cape York mostly in … Continue reading →

Posted in Cairns, Mining, North Queensland | Leave a comment

$430bn investment pipeline

Posted on August 17, 2011 by Gene Tunny

The scale of the resources boom is staggering, as noted in Deputy PM-Treasurer Wayne Swan’s speech to federal parliament yesterday: We have an unprecedented investment pipeline that is continuing to build, with a staggering $430 billion planned in resource investment … Continue reading →

Posted in Macroeconomy, Mining | 1 Comment

Donga contract provides jobs for Toowoomba builders

Posted on August 16, 2011 by Gene Tunny

Coal seam gas (CGS) extraction, which the Government’s announcement yesterday should only have a marginal/negligible impact on (Mining buffer ‘doesn’t go far enough’) will be one of the big drivers of Queensland’s economic growth in the next few years. And … Continue reading →

Posted in Mining | Leave a comment

No reason to panic yet

Posted on August 8, 2011 by Gene Tunny

Our sharemarket has over-reacted to news of the US downgrade and continuing fears about European sovereign debt (Sharemarket closes almost 3pc down). As pointed out by financial economist Chris Joye, Australia’s economy is now largely tied to China and India … Continue reading →

Posted in Housing, Macroeconomy, Mining | Leave a comment

Markets over-react as usual

Posted on August 3, 2011 by Gene Tunny

The 2008 financial crisis shattered any illusions I had about the rationality of financial markets, which appear to consistently over-react to new information, even if it is trivial compared with the long-run trends that are at play. Hence I am … Continue reading →

Posted in Macroeconomy, Mining | Leave a comment

Mining multiplier effect in Rocky

Posted on August 1, 2011 by Gene Tunny

With tens of billions of dollars of investment projects on their way, the Queensland resources boom is set to transform our State over the coming years, and the wealth is sure to spread to many of our regional cities and … Continue reading →

Posted in Floods, Mining, Rockhampton | Leave a comment

Gold Coast and Cairns becoming FIFO hubs

Posted on July 29, 2011 by Gene Tunny

Possibly in response to slowdowns in their local building industries, and a need for construction workers to look elsewhere for work, the Gold Coast and Cairns are emerging as hubs for fly-in, fly-out (FIFO) mine workers: Terminal deal cut for … Continue reading →

Posted in Cairns, Gold Coast, Mining | Leave a comment

Fitch’s negative outlook for Qld is bizarre

Posted on July 27, 2011 by Gene Tunny

Fitch Ratings’s negative outlook for the Queensland economy would only make sense if the US really does have an economic armageddon following the possible (though unlikely) failure to lift the US Government’s debt ceiling and this depresses the global economy. … Continue reading →

Posted in Cairns, Gold Coast, Macroeconomy, Mining | 4 Comments

Tales of the two-speed economy

Posted on July 19, 2011 by Gene Tunny

Cashed up miners are pushing up rents in Mackay, with some prepared to pay $700+ per week for a house: 450 join already long queue Meanwhile the Fraser Coast economy remains in a slump, due to a drop in international … Continue reading →

Posted in Mackay, Mining, Tourism, Wide Bay-Burnett | Leave a comment

Queensland investment boom on its way

Posted on July 12, 2011 by Gene Tunny

From this great chart in the new Queensland Infrastructure Plan (p. 23) it appears that around $40 billion of investment projects were committed to over January to March this year: The Queensland economy is set for strong growth over the next … Continue reading →

Posted in Macroeconomy, Mining, Queensland Government | 1 Comment