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Australia's biggest open cut zinc mine to close; Is the reality of the situation getting real yet? Don't load up on debt!
Topic Started: 20 Sep 2013, 12:53 PM (1,888 Views)
Timo
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You've been warned, the Australian one trick pony heading out to pasture.....


http://www.abc.net.au/news/2013-09-19/century-mine-closure/4969242

Edited by Timo, 20 Sep 2013, 12:53 PM.
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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Pig Iron
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Bogan scum

err it doesn't close until 2016

and it's because the ore body has run out. nothing to do with any kind of decline in profit, if the ore body was still there they wouldn't be shutting.

this is stupid, even for you timo.
I am the love child of Tony Abbott and Pauline Hanson
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Timo
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Pig Iron
20 Sep 2013, 05:11 PM
err it doesn't close until 2016

and it's because the ore body has run out. nothing to do with any kind of decline in profit, if the ore body was still there they wouldn't be shutting.

this is stupid, even for you timo.
Yes yes ore body " run out " and not opening or doing exploration anywhere else....enjoying the turn down in Perth by the way?
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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corbin
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Quote:
 

Incidentally, the future of MMGs nearby fledgling zinc operation, Dugald River Mine, is also looking uncertain.

Whether MMG will continue with plans to mine the Dugald River zinc deposit, which lies 350 kilometres East of Century, will be decided at the end of the year.


Their are a few uses for zinc but by the far the greatest is galvanizing for construction. Since the world's construction industries have fallen off a cliff it is no wonder the demand for zinc has fallen. China has been absorbing the excess and stockpileing it for a couple of years now.

Just another nail in the WA coffin.
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Pig Iron
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Bogan scum

Timo
22 Sep 2013, 05:29 AM
Yes yes ore body " run out "
yes timo, eventually the ore body does run out, but century zinc isn't running out until 2016
Timo
22 Sep 2013, 05:29 AM
and not opening or doing exploration anywhere else
is it really a big ask for you to READ what you post?

they are looking at reprocessing their tailings, mining phosphate and they are also going exploration in dugald river. so if you had of read your own link you'd know this.
corbin
22 Sep 2013, 08:31 AM


Their are a few uses for zinc but by the far the greatest is galvanizing for construction. Since the world's construction industries have fallen off a cliff it is no wonder the demand for zinc has fallen. China has been absorbing the excess and stockpileing it for a couple of years now.
the price of zinc is still historicaly high.

Posted Image
corbin
22 Sep 2013, 08:31 AM
Just another nail in the WA coffin.
you didn't need to prove how much of a muppet you are anymore.

http://www.mmg.com/en/Our-Operations/Mining-operations/Century.aspx

it's in QLD.....
Edited by Pig Iron, 22 Sep 2013, 03:47 PM.
I am the love child of Tony Abbott and Pauline Hanson
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Foxy
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Zero is coming...

Timo
22 Sep 2013, 05:29 AM
Yes yes ore body " run out " and not opening or doing exploration anywhere else....enjoying the turn down in Perth by the way?
Hi Timo,
There is no down turn in Perth property prices.
Rentals maybe.
I agree with your point of a mining slow down.
Thats why i find it hard to understand why the house and units market in Perth is so hot????
Peter
:pop:
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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herbie
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foxbat101
22 Sep 2013, 06:46 PM

Thats why i find it hard to understand why the house and units market in Perth is so hot????
Cheap interest rates goosing the demand side of the equation anyone??? ... :re:
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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KaiserSauzee
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foxbat101
22 Sep 2013, 06:46 PM
Hi Timo,
There is no down turn in Perth property prices.
Rentals maybe.
I agree with your point of a mining slow down.
Thats why i find it hard to understand why the house and units market in Perth is so hot????
Peter
:pop:
Perhaps a run of first homebuyers getting into the market before fhb grant changes and also taking advantage of low interest rates? That in turn means rental vacancies go up an rental prices go down and ultimately will have a knock on effect to house prices as investors panic and start trying to shift them? That said though, I still don't believe that the market in Perth is as hot as you say, can you provide any evidence to back up this claim?
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Timo
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Pig Iron
22 Sep 2013, 03:32 PM
yes timo, eventually the ore body does run out, but century zinc isn't running out until 2016

is it really a big ask for you to READ what you post?

they are looking at reprocessing their tailings, mining phosphate and they are also going exploration in dugald river. so if you had of read your own link you'd know this.

the price of zinc is still historicaly high.

Posted Image

you didn't need to prove how much of a muppet you are anymore.

http://www.mmg.com/en/Our-Operations/Mining-operations/Century.aspx

it's in QLD.....
Haha Panic Button getting a workout from you there Pig?
foxbat101
22 Sep 2013, 06:46 PM
Hi Timo,
There is no down turn in Perth property prices.
Rentals maybe.
I agree with your point of a mining slow down.
Thats why i find it hard to understand why the house and units market in Perth is so hot????
Peter
:pop:
Watch and wait mate, you think a place as isolated as Perth with no other industry is going to stay "hot" as you put it?

Why are rentals going down? That's right people are leaving because jobs are drying up, when jobs dry up house prices........
Edited by Timo, 23 Sep 2013, 06:02 AM.
After a bubble has burst, no one denies that it existed. But before it does, the popular refrain is that though bubbles existed elsewhere in the world, “there’s no bubble here”. So housing bubbles are admitted to have existed in Japan, the USA, Spain and Ireland – because they’ve already burst.
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Jock
Unregistered

foxbat101
22 Sep 2013, 06:46 PM
Timo
22 Sep 2013, 05:29 AM
Yes yes ore body " run out " and not opening or doing exploration anywhere else....enjoying the turn down in Perth by the way?

I agree with your point of a mining slow down.
Thats why i find it hard to understand why the house and units market in Perth is so hot????
Peter
:pop:
That is the problem with markets when they get dislocated and go into bubble territory. You can not predict anything, the entire momentum both up and down becomes driven by extreem sentiment and in today's world too many extraneous things can effect sentiment. Fear of losses in superannuation, fear of house price collapses, news about mass immigration. Up like a missile one year, down like a lead weight the next.
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