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Australia is getting back to business (Read 621 times)
Swagman
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Australia is getting back to business
Mar 21st, 2014 at 9:12am
 
http://www.smh.com.au/business/mining-and-resources/gina-rinehart-secures-79b-in...

Quote:
Gina Rinehart has finally secured funding for her Roy Hill iron ore mine in West Australia's Pilbara region, bringing her dream of becoming a miner in her own right another step closer.

The deal, signed in Singapore on Thursday night, will see a group of lenders including 19 commercial banks from Australia, Japan, Korea, China, Europe and Singapore, and a number of major export credit agencies provide $US7.2 billion ($7.9 billion) to support the 55 million tonne project, which aims to ship its first ore in 2015.

Australia's big four lenders – National Australia Bank, ANZ, Westpac and the Commonwealth Bank – are all supporting the $11 billion project.  Smiley

"The project has strong partners with international experience in finance, engineering, construction, marketing and logistics, which has assisted in the attraction of support from the international finance community," Mrs Rinehart said in a statement.

Her company, Hancock Prospecting, owns 70 per cent of the project, with the remaining 30 per cent owned by South Korean steel giant Posco, Japanese steelmaker Marubeni Corporation and Taiwan's China Steel Corporation.

The partners have already pumped more than $3 billion into the projectSmiley

With capacity of 55 million tonnes per year, Roy Hill would become Australia's fourth-largest iron ore producer and help cement the Pilbara as the world's most important iron ore centre


Massive investment boost for the WA economy and revenue boost for the WA & Fed Govt. Smiley

Australia is getting back to business... Wink
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St George of the Garden
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Re: Australia is getting back to business
Reply #1 - Mar 21st, 2014 at 9:13am
 
Scraping the bottom of the barrel there, swaggie. So she finally got her financing, so what? Hope she pays all her MRRT  Grin
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John S
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Re: Australia is getting back to business
Reply #2 - Mar 21st, 2014 at 9:17am
 
...
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Sprintcyclist
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Re: Australia is getting back to business
Reply #3 - Mar 21st, 2014 at 10:06am
 

Back in business, yes.

Again exporting live cattle to egypt.
Bit by bit, we are moving out of reverse gear.
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progressiveslol
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Re: Australia is getting back to business
Reply #4 - Mar 21st, 2014 at 10:20am
 
Sprintcyclist wrote on Mar 21st, 2014 at 10:06am:
Back in business, yes.

Again exporting live cattle to egypt.
Bit by bit, we are moving out of reverse gear.

Progressives... moving forward...... excuse me sirs madams, its that way Grin Wink

Progressives...moving forward, but in the wrong direction.......
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Swagman
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Re: Australia is getting back to business
Reply #5 - Mar 21st, 2014 at 10:27am
 
St George of the Garden wrote on Mar 21st, 2014 at 9:13am:
Scraping the bottom of the barrel there, swaggie. So she finally got her financing, so what? Hope she pays all her MRRT  Grin


So what? It's a $7 Billion investment risk.

It means jobs for alot of people directly and indirectly, it means export dollars, it means taxation revenues for WA & the Federal Govt and it's not funded by the tax payer.

It's a $7 Billion dollar stimulus package that is NOT A Defacto tax increase.

That's so what.  Smiley
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Rider
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Re: Australia is getting back to business
Reply #6 - Mar 21st, 2014 at 10:30am
 
St George of the Garden wrote on Mar 21st, 2014 at 9:13am:
Scraping the bottom of the barrel there, swaggie. So she finally got her financing, so what? Hope she pays all her MRRT  Grin


She puts her balls on the line, what about you George the Monkey  Grin
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St George of the Garden
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Re: Australia is getting back to business
Reply #7 - Mar 21st, 2014 at 3:53pm
 
Does she, assuming she had any. HM of her own money is going in?
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sir prince duke alevine
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Re: Australia is getting back to business
Reply #8 - Mar 21st, 2014 at 4:02pm
 
wow all this investment and the mining tax still here, carbon tax still here.

Yep...those job killers...
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