Investing in the Isa

YOU MIGHT FIND THIS OF INTEREST…….
press release

XSTRATA LAUNCHES $4 MILLION COMMUNITY PARTNERSHIP PROGRAM IN NORTH QUEENSLAND

Mount Isa, Thursday 9 December 2004

Xstrata has today launched a new Community Partnership Program that will contribute $4 million over the next three years to improving services and facilities in the north Queensland communities of Mount Isa , Cloncurry, Townsville and Bowen.

This amount includes the $1 million commitment to the Buchanan Park redevelopment project in Mount Isa announced by Xstrata plc’s Chairman Willy Strothotte on 6 October, 2004.

The program is in addition to the $460,000 to be spent by Xstrata in 2005 in the north Queensland communities on sponsorships, donations and other community support initiatives.

The Xstrata Community Partnership Program in north Queensland was developed following extensive consultation with local groups and residents over the past twelve months.

This process allowed Xstrata to identify the areas of greatest need in the north Queensland communities where the company’s employees live and work, with a particular focus on education and health, and to develop partnerships with local groups and government to address them.

The program addresses six key areas, namely enterprise and job creation, education, environment, social and community, health, and arts and culture. A full list of initiatives and community partners is attached.

It also includes a substantial commitment to addressing the skills shortage in the mining industry in north Queensland with a tripling of the apprenticeship intake over the next three years, and more traineeships, bursaries and scholarships. The funding for this skills initiative will be in addition to the $4 million Community Partnership funding.(See separate press release.)

Xstrata Copper Chief Executive Charlie Sartain said the community partnership program was a demonstration of the company’s belief that local communities should benefit from the company’s operations both in the short and long term.

“I look forward to sharing the benefits of our business performance with our employees, communities and our partner organisations through this program,” he said.

“The program’s strength lies in the fact that it directly addresses the areas of most concern to local people, such as quality education for their children, access to medical care and youth employment and training.”

Funding for the program is part of Xstrata plc’s commitment to Corporate Social Involvement (CSI). The company contributes at least one percent of its pre-tax profit to community initiatives. In 2003 this amounted to US$6.7 million, 1.9 per cent of pre-tax profit.

The program was launched in Mount Isa today by the Queensland Minister for State Development and Innovation and Member for Mount Isa, Hon. Tony McGrady, MP.

Mr McGrady said he was pleased to welcome Xstrata as a partner in the Queensland Government’s commitment to build a better State with stronger communities.

“I congratulate Xstrata for working with us to create a sustainable future for Mount Isa , Cloncurry, Townsville and Bowen,” he said.

“This is all about making sure Queensland ‘s regions remain great places to work and live.”

Mount Isa Mayor Cr Ron McCullough said the program was a most welcome display of corporate responsibility as well as a demonstration of Xstrata’s commitment to local communities.

“The investment in community support will ease the burden on local organisations and allow them to concentrate on improving the wellbeing of the population at large,” he said.

Cloncurry Shire Mayor Cr Ed Morrison said that the Cloncurry Shire supported Xstrata on this initiative which would assist in stimulating the commercial and social needs of residents in the region.

“Cloncurry Shire Council congratulates Xstrata on this terrific boost for communities in the north west of Queensland and looks forward to further partnering opportunities both with Xstrata and other businesses,” he said.

The Xstrata Community Partnership Program in north Queensland supports the company’s transformation of its north Queensland operations where it is delivering significant and sustainable performance improvements.

This year, Xstrata has committed over $115 million to major new projects including additional development of the Enterprise underground copper mine, copper smelter capital improvement projects, and the development of the Black Star zinc-lead open pit mine all at Mount Isa ; and gas conversion at the Townsville copper refinery.

Commenting on the program launch and business transformation process, Mr Sartain said, “I believe these new projects and the Xstrata Community Partnership Program in north Queensland will assist in creating an exciting era of opportunity, cooperation and involvement for Xstrata and the local communities in north Queensland.”

G’day Swampy

Virtually all houses in the Isa have EVAPORATIVE air, one of the earliest generations of air COOLERS (a massive metal unit, usually perched on the top ridge of the roof). They help keep the temperature cooler, but for my money not a patch on today’s air conditioners.

Part of my Isa portfolio includes 2 brand new executive townhouses (block, 3BR, DLUG), and both have the latest reverse cycle a/c both upstairs and downstairs. However, I also own blocks of 4 X 2BR block units in the better areas of town, and enjoy virtually 100% occupancy with these because I keep my rents competitive, in the best AREAS, but none of the block units have a/c.

There you have it. Best of luck

Greg

Hi Jaco

There you go again with indecipherable sms talk! What the heck is “bjb”?? (Bloomin’ Jolly Brilliant??) [blush2][biggrin]
Cheers
greg

blossomoz

I have made recent enquires re: property managers in Mt Isa. Both LJ Hooker and Jays charge 10%. Jays will charge 7.5% if you purchase through them. Ray White charge 8.5% + $5 per month.

I think they all charge GST.

I have not yet purchased there but have spoken with the two managers at Ray White and they are both very helpful. They will even inspect the property for you prior to your purchase if you ask nice.

Simon

I have an IP in Mt Isa and, to be honest, wouldn’t buy there again. I am having an awful time with the property manager. For the first 6 months I had to call up every month and find out why my rent hadn’t been paid into the account – there was always someone else to blame. Apparently on about month 3 it was my fault because I hadn’t given them my banking details – despite having had two previous payments paid into my account!

But I am in a bit of a bind because if I go to the other property manager, what if they are even worse?

Things aren’t so bad now because I have whinged and complained and threatened to take my business elsewhere, but I am still not happy about 15 minute inspections every 6 months, shoddy paperwork etc.

As to where to buy, I would recommend flying up there and looking at anything before purchasing. We flew up to have a look around and were really glad we did. The mantra of “the worst house in the best street” really doesn’t apply. A really good property can be right next door to a really bad property.

Also, several properties look like someone has gotten drunk one night and decided to tack on an extra room or so.

I personally wouldn’t buy anything there without a visual inspection.

Also, be wary of who you buy through. The local agents (Jays, Ray White) are best. But the agents who live south, even as far as Brisbane, often haven’t seen the properties themselves and fob the properties off for far more than they are worth.

I have heard that contracts from the southern agents often fall through because the valuations often come in far less than the purchase price.

My thoughts only.

K