Australian (ASX) Stock Market Forum

The Mining Boom is Over

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Compelling story on The Business last night - flick forward to 4.20 to see the certainty with which one commentator says "it's over" add Europe to this and it really looks like it's about to get rough.
Ther market will wake up to this soon and watch it dive then.:eek:

http://www.abc.net.au/iview/#/view/978673
 
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I don't agree. Do you honestly think that China, India, Asia are going to stop growing?
 

CanOz

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I don't agree. Do you honestly think that China, India, Asia are going to stop growing?
Agree, but....will the demands still exist for years to come or will we settle into a normalized level of demand based on the typical boom / bust business cycle...?

Most of the voraciousness came from China's asset bubble. They're not interested in continued re-inflation, but a more consistent pace of development.

So yes i agree the boom is either over or coming to an end, hopefully to a more consistent, normal demand.

CanOz
 
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So yes i agree the boom is either over or coming to an end, hopefully to a more consistent, normal demand.
CanOz
Normal demand won't keep the AU economy afloat and we have nothing else up our sleeve, unless wool makes a big comeback:rolleyes:
 

CanOz

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Normal demand won't keep the AU economy afloat and we have nothing else up our sleeve, unless wool makes a big comeback:rolleyes:
Mining isn't the bulk of the economy from what I've read on here....Australia's political leaders need to have a vision for the future that can create a balanced economy. Good luck with that...

CanOz
 
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Mining isn't the bulk of the economy from what I've read on here....Australia's political leaders need to have a vision for the future that can create a balanced economy. Good luck with that...
Cant expect them to look after us when they only have time for themselves:frown:
 
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Rio closing Sydney office, cutting jobs

Rio Tinto has confirmed it will close its Sydney office, and will also be cutting other support roles across the company.

The company says around 20 staff work in its Sydney office, and some of those employees will be relocated to Brisbane or Perth when it closes.

However, Rio says some staff in Sydney and Melbourne will be given redundancies as part of a back-office cost-cutting program which will also see the Melbourne office downsized.

"Like others in the industry, Rio Tinto is facing the challenge of increasing costs," said a spokeswoman.

"We are actively seeking ways to tackle this. This includes a programme of reductions in service and support costs across the organisation, which have been rising sharply in recent times."

The company has not confirmed how many staff will lose their jobs in the shake-up.

Last month, Rio said it would review operations at its Clermont mine in central Queensland but it has yet to announce any job cuts.

BHP Billiton is also looking at ways to reduce costs as commodity prices continue to come off their highs.

"Against a backdrop of increasing costs and falling commodity prices, we continue to focus on reducing our overheads, operating costs and non-essential expenditures to ensure our assets are well positioned on their relative cost curves," Fiona Martin, a BHP spokeswoman, told Reuters.

"This includes reviewing our overhead costs and the sequencing of our major projects."

http://www.abc.net.au/news/2012-08-01/rio-tinto-closes-sydney-office-cuts-jobs/4169272
 
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I don't agree. Do you honestly think that China, India, Asia are going to stop growing?
Yes.

We already know China is slowing, India appears to be also

http://profit.ndtv.com/News/Article...h-slows-in-july-weakest-since-nov-2011-308663.

Growth won't stop(well in some cases it will and contraction will occur), but even if it slows heavily it would have huge impacts here at home. China hitting the brakes hard would be disastrous for us. And that's only a matter of time.
 

wayneL

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I don't agree. Do you honestly think that China, India, Asia are going to stop growing?
Agree, but....will the demands still exist for years to come or will we settle into a normalized level of demand based on the typical boom / bust business cycle...?

Most of the voraciousness came from China's asset bubble. They're not interested in continued re-inflation, but a more consistent pace of development.

So yes i agree the boom is either over or coming to an end, hopefully to a more consistent, normal demand.

CanOz
The business cycle will always assert itself... eventually.
 

kennas

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Looking forward to the Africa Boom! :)

in the 2300s.
 

So_Cynical

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No not over, its a lull in activity and a drop to more realistic prices...not over by a long way, this super cycle has at least 10 years to run. :2twocents
 
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Well my money is going into tulips. I've got a hot tip from some mad dutch bloke. :eek:
 

springhill

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There are always doomsayers and extreme bulls around. If they keep talking long enough, at some stage they will be right even if it is +/- 10 years from when they started flapping their trap, and then able to say 'Look at me, i told you so', which is invariably their main objective.
 

Timmy

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There are always doomsayers and extreme bulls around. If they keep talking long enough, at some stage they will be right even if it is +/- 10 years from when they started flapping their trap, and then able to say 'Look at me, i told you so', which is invariably their main objective.
Agree 100%.
They are best ignored by traders. Or faded.
 

CanOz

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Agree 100%.
They are best ignored by traders. Or faded.
Then there is the other side....the "this boom will last forever, we have reached a permanently high plateau" ... things "are different this time"...:rolleyes:

As Wayne says, "the business cycle will prevail"....the "return to mean"...

CanOz
 

Timmy

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Then there is the other side....the "this boom will last forever, we have reached a permanently high plateau" ... things "are different this time"...:rolleyes:
Think you have missed something Can:

There are always doomsayers and extreme bulls around.
i.e. BOTH doomsayers and the "other side" are as bad as each other.
Ignore/fade BOTH ...
 

CanOz

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Think you have missed something Can:



i.e. BOTH doomsayers and the "other side" are as bad as each other.
Ignore/fade BOTH ...
oooh, yup agree...
 

Glen48

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Solves the problem of Gina importing slaves, Clive shipping coal up the Reef , Global warming and you forget we have some thing the rest of the World does not have and badly wants......Swanny.
Maybe the boat people won't want to come now if there is hand outs all is taking a dive.
Wonder if Clive will go ahead with Unsinkable 11 ​sounds like a bad decision to me.
 

moXJO

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No not over, its a lull in activity and a drop to more realistic prices...not over by a long way, this super cycle has at least 10 years to run. :2twocents
I agree.
Plus we are gearing up as Asia's food bowl. Plenty of ops to come
 
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