QLD: 70K new jobs: Australia's biggest export contract

MINING billionaire Clive Palmer has just announced the economic deal of the century -the creation of up to 70,000 new jobs.

The Queensland entrepreneur has clinched a contract with one of China's biggest power companies to export $69 billion worth of thermal coal from new mines in central Queensland over 20 years.

Royalties from the coal exports will pump between $400 million and $700 million a year, depending on coal prices, into the Queensland Government's coffers - a welcome boost but not enough, says the Premier, to justify abandoning the sale of state assets.

The deal cements the future of Alpha and the Galilee Basin as an economic powerhouse for the state into the future. With other mines also proposed, the region has the potential to produce 100 million tonnes of coal a year.

Full article: here

This should surely be a good sign for property investment in QLD. What do you all think?

Cheers,
Oracle.
 
Just commencing a project up that way (little bit further North) for a rail spur.

Am in an Alliance to deliver the project for the client (mine), which will enable the mine to be fully operational next year.

As an Alliance, currently establishing costings before final approval.

Cheers,

F
 
Yes, you will hear lots more positive, you may call it a boom.

We have experienced this on a mega scale in WA, now its the Bowen Basin's turn.

Just purchased 2 properties in Blackwater, one a land and house package in Blackwater. No properties available, investors, builders have snapped them up. There is currently a waiting list for the land so do your homework, the yields are on average 10% now, but hoping for more in 6 months time.

Make sure you can meet the criteria on what the big companies want for their employees.

I'll Help you out if it is an older property:


Airconditioning each room (split system)
Robes each room
Either renovated kitchen or renovated bathroom
Shed

Does not sound like much, but if you don't meet the criteria it will cost you dearly to update.

Cheers, MTR
 
is this anywhere near bundaberg?

Yeah not to far mate where the current site is 3klms out of aldershot bout an hour from bundy although the seam goes from tiaro to bundy take a look at the Northern Energy website the alderhsot site has been in the cards for a few years looks like they finally moving ahead if they get the leases approved of course...
 
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It is hard to know which area will benefit most from Palmer's deal.
The mine will be near Alpha, around 170km west of Emerald, 100km from both Charleville and Cunnamulla, and the coal port will be near the Army's Shoalwater Bay grounds, ~50km north of Yeppoon,

I'd say Emerald and Rockhampton will feel the effects most.

The trouble with a site like this is it essentially needs a new town built or massive upgrade of Alpha, including water supply, sewerage, streets, cbd etc.

Alpha has 400 people and rainfall less than 400mm pa, with extremely high evaporation rate.

I'd figure that manpower will be heavily FIFO, possibly from Rocky Yeppoon area. But who knows. Clive Palmer is a guy who knows how to do big things.
 
I worked with one of the property owners in the Alpha area last year and he is currently in talks about setting up a decent sized camp on his land. He already had a gravel quarry in the process of being constructed to supply material for the railway line.
Truthfully, he's not overly impressed with what's going on in the area. He was saying that it's hard enough to find workers as it is, it'll be impossible to compete with $70kpa+ salaries to chase a few cows around. It's interesting seeing things from the other side of the fence.
Prices in Alpha have gone crazy of late. A lady I worked with bought 2 ex-railway houses for $18k each about 5 years ago and people thought she was mad! You can't buy anything under $150k atm.
Don't discount Mackay from feeling the benefits of this new mine as well. There is a back way through to Clermont from Alpha which is pretty close to the same distance from Alpha to Rocky.
Winston, are you saying that Alpha doesn't currently have a CBD? 2 pubs, a bread shop, servo, cafe, clothes shop, newsagent and on the other side of the road a nice park/railway. What more could you want? :)
 
Tread carefully imho most bowen basin towns are over priced however

keep a close eye on Aldershot,Toogoom,howard,maryborough,hervey bay etc


http://www.frasercoastchronicle.com.au/story/2010/02/05/coal-mine/

most rents are cheap now but what will happen when 100 new permanant employees are in the area most miners like the beach:p


This is what I thought when prices in Karratha WA were selling at $300K, now we are looking at $800K+.

I have been trying to contact my RE agent all morning she is selling at Alpha and the phone has not stopped since the announcement.

Like everything do your homework, I like Moranbah but the entry level is $430K, I can build in Blackwater for $385K and will have a tenant signed up prior to completion of build. I like the new properties as they are easy to rent and this is what the companies like.

I'll also check out some of the spots you mention above.


Cheers, MTR
 
This is what I thought when prices in Karratha WA were selling at $300K, now we are looking at $800K+.

I have been trying to contact my RE agent all morning she is selling at Alpha and the phone has not stopped since the announcement.

Like everything do your homework, I like Moranbah but the entry level is $430K, I can build in Blackwater for $385K and will have a tenant signed up prior to completion of build. I like the new properties as they are easy to rent and this is what the companies like.

I'll also check out some of the spots you mention above.


Cheers, MTR

I grew up in Blackwater I know quite a few who paid peanuts for there houses and flogged em off years ago for a killing my mum runs a transport company there although yeah some of the projects have been rumuroed for awhile alot also lost jobs in the GFC which = less renters if you can get a good company lease go for it otherwise stay out of the area on that note rubyvale is close to alpha and there was 8 2 bed studios selling as a home for 285k maybe something to look into I was conisdering buying it but boss lady says no your right with the new homes they get snapped up pretty quick older homes not so much in blackwater....
 
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