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Archives for September 2012

Cost of Iron Ore

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Make no mistake, the slowing Chinese economy is bad news for Australia and Aussie mining stocks. And as we see it, it’s only set to get worse, according to Kris Sayce of MoneyMorning ref Will Fortescue ‘Break the Buck’? 5 September 2012.

Iron ore prices have fallen to $US89/t in the past nine weeks.  According to Sayce hedge fund managers believe that Fortescue could struggle to repay its debt if iron prices fell below $US100. He also predicts that the Chinese economy is collapsing and there is absolutely no guarantee the iron ore price will ever return to $US120.

The cost of doing business in iron ore (delivered to China) for some of our biggest miners:

  • Rio Tinto $US38/t
  • BHP Billiton $US41/t
  • Fortescue Metals Group $US63/t
  • Atlas Iron $83/t

Ref:  North West Telegraph, 12 Sept 2012, p.27

Landcorp decides on homes built on stilts

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At last Landcorp is looking for cheaper ways to develop land in Port Hedland. It is planning new homes built on stilts which potentially could deliver 300 new homes adjacent to Cooke Point. The area is located on the vacant land adjacent to Athol Street.

The new design is planned to reduce the need for land fill in flood proned areas. Most will say that the whole island of Port Hedland is a flood proned area. I have always wondered why new homes built in Port Hedland from the 1970s were mostly brick on a concrete slab.

One of my favourite houses in Port Hedland on the banner of this website. It is built on concrete posts of light weight walls, a tin roof and a wrap around verandah enclosed with latice. It even overlooks the ocean and has weathered many storms and cyclones. This design has stood the test of time, it Port Hedland’s heritage and it a must for new development.

Ref: North West Telegraph News, 12 September 2012, p.11

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