Thoughts on investing in Weipa QLD?
- Thread starter Jenko
- Start date
I have got my fingers crossed it does! Bauxite has double its price in the last 5 years and is still going up! Rio mines it's Weipa Bauxite at $15 p/t earning them $45 p/t the new mine (SOE) offers a higher return for Rio !
Rio Tinto's report to investors
Is the market still looking good in Weipa?
I know that Rio Tinto has got the new mine opening.
Also, do you think that the potential new FIFO laws will make a difference?
I know that Rio Tinto has got the new mine opening.
Also, do you think that the potential new FIFO laws will make a difference?
Just a personal experience our properties ( 2 3bedroom houses) dropped around $50k in value during the GFS 2008- 2009 then slightly improved over the next couple of years up $60 to $70k 2010 - 2012. Since then price haven't done a lot maybe slight increased or level. Everyone is waiting for the official announcement and the building to start for the new mine SOE ( South Of Embley) Rio has had quite a few new houses built in preparation of the event. Because of the shortage of available free hold land All of these new house have been jammed into parks and naturestrips that I enjoyed as a kid growing up in Weipa. All though the new houses were a slight concern at the start talking to property managers and other people with their finger on the pulse up there they say even with the new properties on line there still will be a shortage for the expanding workforce needed for the new mine. Although the new houses are modern they severally lack land content needed for the typical Weipa life style or boats, 4 wheel drives, dogs and quads. So the older style houses with 800 to 1400 m2 blocks will alway be in demand.
I know that the the local indigenous are against fifo however is there some other rules?
I know that the the local indigenous are against fifo however is there some other rules?
