We need your help Investors, please read on

[annac]

Please help support those of us who have investments in the mining towns by signing this petition and by getting all your investor friends to help support those of us who are really suffering by what these mining companies are doing.

With many of the large mining companies now opting for 100% FIFO the mining towns are suffering immensely. Many of the local businesses are having to close down. While I am not saying that there shouldn?t be a FIFO option?.. I really believe these companies should not be allowed to operate on a compulsory 100% FIFO basis! They should let their employees choose where they want to live? Let them have the choice to live with their families and not in mining camps.

We kindly request you to spare five minutes to sign the petition below

Thank you so much for taking the time to support a fellow investor

 

[D.T.]

If we let people choose where they wanted to live, it'd likely be in the city as they can be flown up to the site location anyways.

 

[nhg]

It makes fiscal sense to not pay exuberant rents. That was always the risk with mining towns. One little thing and POOF, house value gone.

 

[pinkboy]

Did you build your houses in Blackwater for high cost and now they are worth next to nothing with the downturn?


pinkboy

 

[Propertunity]

Please help support those of us who have investments in the mining towns by signing this petition and by getting all your investor friends to help support those of us who are really suffering by what these mining companies are doing.

Yeah, good luck with that.

You invested in mining towns for presumably higher rental yield but the downside risk is what is happening now. Sorry, I don't invest in mining towns for that reason. I'm happy investing near civilization and getting boring 5-7% rental yields.

 

[TPI]

As they say, if it sounds too good to be true, it probably is.

 

[HotRod]

So you'd be happy for people to sign a petition stopping people living in your property in one of these mining towns???

Its all supply/demand and market driven.

Good on them for building these camps if it will save them money.

It is the risk everyone takes buying into "mining" towns.

High rents = high risks.

Learn from it. Either adapt for next time or think of another strategy.

 

[westminster]

Please help support those of us who have investments in the mining towns by signing this petition and by getting all your investor friends to help support those of us who are really suffering by what these mining companies are doing.

With many of the large mining companies now opting for 100% FIFO the mining towns are suffering immensely. Many of the local businesses are having to close down. While I am not saying that there shouldn?t be a FIFO option?.. I really believe these companies should not be allowed to operate on a compulsory 100% FIFO basis! They should let their employees choose where they want to live? Let them have the choice to live with their families and not in mining camps.

We kindly request you to spare five minutes to sign the petition below

Thank you so much for taking the time to support a fellow investor

http://www.change.org/en-AU/petitio...ision-on-100-f-i-f-o-in-the-bowen-basin#share

I believe in FIFO so I won't be signing.

I believe there is only towns not mining towns. Having mining staff live in town is often a negative for a town as it hikes up rent making it impossible for locals who live and work there to be able to afford it.

Many towns do not have the amenities in terms of health, education and local govt things like libraries, rec centres to be able to support a mining contingent. Why should a local, state and federal govt spend money on upgrading these towns to offer those amenities for a risky venture such as mining.

If mining companies want to set up a camp it is their choice to pay for that infrastructure - they can do it as part of their costs, not the tax payers costs.

Believe it or not many families will still choose to live in the larger city where their friends, family, universities, partner's workplace, schools etc are. They don't want to uproot themselves for a 6-12mth contract in a town away from all of that.

 

[Brady]

Local businesses closing down? Did they exist before the miners arrived?

FIFO and camps IMO is better for a local area in the long term as doesn't have a large impact which leaves a large hole when they pack up and leave. Unfortunately for you, that you purchased before this occured and you're in that hole thats been left along with the businesses.

Long term this shouldn't occur as local businesses, rent and prices wont be pushed up by miners.

 

[marg4000]

Friend's partner works FIFO, preferred option.

Most of the places he works are for a few years only, so the alternative to FIFO is uprooting the family every few years to trek around the country following mining sites. Facilities for education and families in these towns are often below the opportunities in a major city and continual changes are not in the best interests of children.

If the spouse has a career then that is another deterrent to constant moves to remote places.

Another issue is the ridiculous rentals charged in mining towns which often makes them unaffordable for those in positions without company housing.
Marg

 

[HD_ACE]

Yeah good luck with that. 90% prefer fifo. The other 10% are those that were brought up there.

Cheers

 

[Arnoldus]

Local businesses closing down? Did they exist before the miners arrived?

FIFO and camps IMO is better for a local area in the long term as doesn't have a large impact which leaves a large hole when they pack up and leave. Unfortunately for you, that you purchased before this occured and you're in that hole thats been left along with the businesses.

Long term this shouldn't occur as local businesses, rent and prices wont be pushed up by miners.

This seems like the topic that just keeps popping up on the SS forum. 100% FIFO hasn't dramatically affected Emerald like it has places like Moranbah, but 100% FIFO isn't very popular with the residents here either.

As strange as it might seem, some residents in towns near mines might well want to work at said mines while still remaining with family and the place they grew up in. 100% FIFO, in cases like BMA Daunia and Caval Ridge, has actually taken away the chance for locals to work in those mines unless they relocate to Cairns or Brisbane.

Coal mining is not a normal business activity, in that the miners are digging up a state owned resource. In Queensland, it's up to the co-ordinator general to decide the development conditions of a mine, including how much of the workforce is FIFO, and how much should be sourced locally. Locals (not necessarily investors) would like to see significant economic benefits from new mines in their region, and, except maybe for locals who are also investors, would like to see as much benefit passed on to their community without straining affordability.

The events leading up to 2012 suckered a lot of folks to invest in towns like Emerald, Blackwater, Dysart, and Moranbah (Terry Ryder was spruiking Emerald at it's peak price). I sympathise with investors who took a bath by diving into these towns at their peak, and I question their motivations for pushing petitions against 100% FIFO, but there's a large proportion of residents in these towns who are hoping that 100% FIFO doesn't become the norm, as it's going to have a material impact on their prospects, and their children's prospects.

 

[S.T]

Sell your mining properties and buy shares in the mining companies and airlines!

 

[Arnoldus]

Sell your mining properties and buy shares in the mining companies and airlines!

Haha, cop a huge loss on your IP, then put your remaining money in companies that can't be consistently profitable (Airlines), and Coal/Iron miners, who are about to get smashed even harder than they have been by falling coking coal and iron ore prices.

I also heard the other day that most thermal coal mines in the bowen basin are running at a loss at the moment, and that the reason they haven't been mothballed is because they're being run for strategic/long-term reasons, rather than economic ones (doesn't quite make sense to me, but i'm a simple profit/loss kinda guy).

 

[S.T]

Sorry, my response was more in line with if you cant beat 'em, join 'em!




*I don't invest in mining companies or airlines

 

[Arnoldus]

Sorry, my response was more in line with if you cant beat 'em, join 'em!




*I don't invest in mining companies or airlines

Hehe, yeah sorry, probably shoulda put a smiley in their to indicate sarcasm.