Hi reelygood1,
Could you tell me how many bedrooms the property has .Thats $280.00 rent each side of duplex thats a good rental return.
Dom
Ps. still trying to buy their.[biggrin]
Hi Ravtown,
Thanks for the update on the town ,i lived and worked in the mine about 10 years ago . So i knew a bit about the area . Being a city boy i could not live their for long but i did enjoy my time working in the mine. It opened my eyes up!.
I will be taking a trip soon (next 2 weeks ) to check out a property i have their and the local.
Dom
Hi Dom,
Yep that correct, they looked like new inside and had 1000sqm of land. 2 beds like new can get that sort of money, another agent told me a house sold for $800k in Isa recently, thats got to be a record and Ray White had their first rental listing in 4 months the other day and had 15 applicants, made news in the local paper. First of new mines in Isa for 10 years announced last week, 100 million $ to be spent, a lot happening at the moment.Don
djr
Found a handy little document today and I stand corrected on my call about travel distances from Cloncurry to upcoming mine developments.
Details on how to access the document below. Hope I have not broken any forum protocol in doing this.
Cheers
Rav
abare’s list of major minerals and energy development projects
the full list
ABARE’s listings of major minerals and energy projects expected to be developed over the medium
term are compiled every six months. Information contained in the lists spans the mineral resources
sector and includes energy and minerals commodities projects and minerals processing projects.
The information comes predominantly from publicly available sources but, in some cases, is supplemented
by information direct from companies. The lists are fully updated to refl ect developments in
the previous six months.
what’s in the list
The latest projects list contains information on 256 projects, providing the following details:
> project name > proponent company or joint venture
> location > project status
> expected startup date > additional output capacity
> capital cost of the project > additional employment, where available.
With one industry exception, ABARE’s listing provides details of announced projects for which
total capital expenditure is expected to exceed $40 million. The exception is the gold industry, which
typically has a relatively large number of smaller projects. For gold, the expenditure threshold for
inclusion in the table is $15 million.
In general, projects identifi ed are at relatively advanced stages of planning. That is, for new
projects, stage of planning categories range from ‘feasibility study underway’ through to ‘under
construction’.
Projects are listed by the principal mineral commodity to be produced, under the broad headings:
‘Mining projects – energy’, ‘Mining projects – minerals’ and ‘Minerals processing facilities’. The table
includes new greenfi elds projects as well as expansions of existing projects.
where to get the list
This projects listing is released around May and November each year. The lists are available only
as electronic products.
The list can be downloaded from ‘Publications’ at http://www.abareconomics.com
enquiries: [email protected]
or phone +61 2 6272 2010Last Update: Tuesday, September 12, 2006. 8:20am (AEST)
Possible diamond deposit to be exploredAn exploration company thinks it may have found new diamond deposits west of Boulia in far western Queensland.
Elkedera Diamonds conducted aerial surveys of the Cravens Peak area south-west of Mount Isa on the Northern Territory border earlier this year.
Elkedera’s Sam Randazzo says a ground survey team may examine the area as early as next month.
“We take surface samples from those areas, small samples roughly 50 kilos each, and we then put them through laboratories to identify whether there’s any indicator minerals,” Mr Randazzo said.
“If we identify sufficient numbers of those indicator minerals then we would proceed to take it to the next step which could probably involve drilling.”
Hi All,
Found out yesterday from a mate of mine in Isa, Woolworths bought a caravan park near town for 8 million dollars, going to build a big shopping centre on the land I believe, good news keeps coming from Isa and have a look at the property prices of late on realestate.com.au, seem to be shooting up a lot lately, agents say its changing by the month.Don
djr
I wonder which caravan park they bought…
The two most likely are on the cloncurry edge of town, but you would not think them central enough unless someone is planning a heap more subdivision out breakaway estate way.
If anything I thought they would have set up at the bottom of the Healy subdivision and let the town keep expanding towards Duchess. Perhaps not…
It always great to see the big players tipping more money into the place though. They definitely would have done their DD.
As to the prices I cannot believe how much they have gone up in the last 4 months. And as you say the latest listing prices just seem astronomical.
there seem to be quite a few new listings coming through right now. I am wondering if these are people planning to relocate at the end of the year and are testing the market with pie in the sky prices knowing they have time up their sleeve. If someone bites, they sell and rent back until their ready to move.
If so it’s clever. I know a few people who sold late last year for lower than market value as October to Jan saw the market hit a real flat spot. If they had been able to hold out to march there would have been at least another $20 000 in it for them.
Rav
Hi,
My guess is that it is catching up with the rest of the country especially WA. And considering rental yeilds are over 7% + i think it has a very long way to go!
People i talk to find it hard to beleive the rental returns.But their is not much left to rent and with the expansion of the mines and 600 new employees + families its only going to get worse. This is my opinion only and anyone should do thier due diligence.This is an article which i saw back in august.
Last Update: Thursday, August 3, 2006. 8:00am (AEST)
Xstrata hopes the investment will give output at Mt Isa a massive boost.Xstrata hopes the investment will give output at Mt Isa a massive boost. (ABC )
Xstrata plans $160m Mt Isa mining expansion
Swiss mining giant Xstrata has revealed plans to turn its Mt Isa operations in north-west Queensland into the world’s third largest zinc mine.
In its interim profit report, Xstrata Zinc has announced a new $160 million project which will boost production by 60 per cent within two years.
The company says this year’s production of 5.5 million tonnes will rise to 8 million by 2008 – an increase in north-west zinc output of 165 per cent since 2003.
General manager Fred White says boosted production is being matched by expanded reserves.
“In 2004, reserves for the zinc side of the business sat at 48 million tonne,” he said.
“Since then we’ve increased those by bringing Black Star open-cut online and, with further drilling around Black Star and out at George Fisher Mine, we’ve managed to lift those reserves to 81 million tonne now.”
he first project entails the innovative use of second-hand equipment, sourced from Xstrata Zinc’s George Fisher mine and overseas at a cost of less than US$5 million, to increase existing throughput capacity by some 30% to 6.5 million tonnes per annum in the final quarter of 2006.
The second project focuses on a major revamp and expansion of the zinc-lead concentrator at Mount Isa, at a capital cost of some US$120 million, which will increase throughput to 8 million tonnes per annum by the second half of 2008 – 60% above current capacity. The project comprises the installation of a new semi autogenous grinding (SAG) mill, ball mills and flotation circuit, enabling Xstrata Zinc to replace the existing ‘Heavy Medium Plant’, as well as the obsolete rod and ball grinding circuit. The project is expected to be completed in the first half of 2008.
Ore production from the George Fisher and the Black Star mines will increase substantially in the second half of 2006, with ore production from the Black Star Stage 3 East and North sections scheduled for early 2007, to provide sufficient feed for the enlarged capacity of the concentrator from the fourth quarter. In 2006, production from these two mines is estimated to reach approximately 5.5 million tonnes, almost 40% above 2005 production levels. A major drilling programme is underway at both mines to continue the progress made in extending ore reserves to support the current and future expansion potential of the Mount Isa zinc-lead operations. Reserves increased at Black Star and George Fisher from 48 million tonnes in 2004 to 66 million tonnes in 2005, with current total reserves of 81 million tonnes confirmed, as follows:
George Fisher 48.8 Mt @ 8.6% zinc, 4.9% lead and 100g/t silver
Black Star 32.3 Mt @ 5.1% zinc, 3.2% lead and 61g/t silver
Total 81.1 Mt @ 7.2% zinc, 4.2% lead and 84g/t silverThese figures are expected to increase materially as the current drilling programme progresses.
Commenting, Xstrata Zinc Chief Executive Santiago Zaldumbide said: “The projects we announce today build upon the excellent progress made in improving the operating efficiency and long-term viability of our zinc-lead business at Mount Isa. This rapid and capital efficient expansion of our zinc concentrate capacity, together with the extension of the zinc reserves, will reduce costs and significantly enhance earnings from the end of this year, while adding to the long-term value of our business. I am particularly pleased that despite ongoing shortages and price increases for equipment and materials, Xstrata Zinc has been able to secure an additional 1.5 million tonnes of capacity within an accelerated timeframe and at exceptionally low capital cost through the highly innovative adaptation of second hand equipment and our existing process technology expertise.
“Together, these two projects will increase zinc-lead ore throughput to 8 million tonnes per annum by the second half of 2008, approximately 5 million tonnes, or 165%, above the throughput achieved in 2003 when Xstrata took stewardship of the operation. Critically, these expansions will also improve the competitive position of Xstrata Zinc by doubling the proportion of the Group’s concentrate requirements met from our own sources. By 2008, Mount Isa will be the world’s third largest zinc mine, producing some 800,000 tonnes of zinc concentrate, which is around two-thirds of our global zinc smelter requirements.â€
Dom[biggrin]Hi again,
Just saw this article today thought some of you mayby interested.
Dom [biggrin]
Mt Isa house prices up 7pc
Wednesday, 27 September 2006. 11:43 (AEDT)Wednesday, 27 September 2006. 10:43 (ACST)Wednesday, 27 September 2006. 10:43 (AEST)Wednesday, 27 September 2006. 11:43 (ACDT)Wednesday, 27 September 2006. 08:43 (AWST)The Real Estate Institute of Queensland (REIQ) says the median price of a house in Mount Isa has grown by 7 per cent to $207,000 in the 12 months to June this year.
In Barcaldine, the median house price has jumped $23,000 to $98,000 for the same period – while in Cunnamulla it has risen from $36,000 to $63,000.
REIQ chairman Peter McGrath says the mining boom is responsible for the growth in Mount Isa.
“One of the biggest drawbacks in areas like Mount Isa or all of western Queensland … quite frankly is actually getting tradespeople out there to build and that is certainly affecting the prices because it’s pushing the prices up because it’s very difficult to get a new home built and where there’s demand for new homes both for owner-occupiers and also for the investors,” he said.
WA is still BOOMING and the NT seems to be chugging along strongly in Darwin as well..this news Surprised me though re MT ISA and BANANA..
Meanwhile in Northern Queensland there has been a surge in house prices, particularly in mineral rich regions which has fuelled the current property boom in areas such as Mt Isa and the Banana Shire which recorded a 51.2% increase in median property values in the last 12 months.The REIQ recently released figures showing a disparity in property value increases in the various government areas. While some had massive growth, others reported falling property values – especially all 3 local government areas on the Sunshine Coast.
Suburb/Locality
2006 Median Price
Annual ChangeBrisbane
$370,000
2.8%Ipswich
$235,000
9.3%Logan
$255,000
7.6%Caloundra
$380,000
-1.3%Noosa
$435,000
-3.3%Rockhampton
$200,000
29%Mackay
$343,000
27%Banana
$195,000
51.2%Mt Isa
$187,000
38.5%“Money is a currency, like electricity and it requires momentum to make it Effective”
Online Positive Cashflow and Renovating CalculatorsHi Redwing,
This is an other article recently posted , i wonder where they will squeeze this one in.
Russian aluminium plant for Queensland
September 29, 2006 10:15pm
Article from: Agence France-PresseFont size: + –
Send this article: Print Email
RUSSIAN aluminum giant Rusal will build an electricity power station and aluminum plant in Queensland at an estimated cost of $US3.5 billion ($4.7bn), Russian daily Gazeta reported today.
The station could generate 500 to 1100 MW of electricity, which would power the plant to produce up to 690,000 tonnes of primary aluminum, the daily quoted Antanta Capital metals analyst Vladimir Popov as saying.
This would increase Rusal’s current primary aluminum production by 25 per cent, Mr Popov said.
The project would take advantage of Australia’s position as the world’s largest producer of bauxite, the main component in aluminum.
Rusal is the largest producer of aluminum in Russia and the second-largest in the world, after US Alcoa.
Rusal had revenues of $US6.65bn in 2005, and employs about 50,000 people in Russia and 13 other countries.
Mineral exports keep economy healthy
September 29, 2006 08:09pm
Article from: AAPFont size: + –
Send this article: Print Email
FITCH Ratings agency has affirmed its ratings for Australia and says its outlook is stable.
In a statement released tonight, the global ratings agency affirmed Australia’s foreign and local currency issuer default ratings at AA-plus and AAA, both with stable outlooks.
The short-term foreign currency rating is affirmed at F1-plus and the country ceiling is affirmed at AAA.
London-based Fitch Sovereign team senior director Paul Rawkins said sound public finances, a strong banking system and a proven track record of navigating the economy through adverse shocks underpin Australia’s sovereign ratings.
“Fears that this track record would fall victim to a faltering property boom at end-2003 have been mitigated by soaring demand for Australia’s mineral exports,” he said.
“Once again, Australia has not disappointed those who would characterise it as a `lucky country’.”
Fitch said Australia was enjoying its 15th consecutive year of economic expansion.Higher commodity prices, driven by strong Chinese demand, had ratcheted up Australia’s term of trade to near historical highs, boosting corporate profits, tax revenues and, to a lesser extent, the Australian dollar, it said.
“These developments have been accompanied by a rebalancing of growth away from consumption towards investment, particularly in the under-resourced external sector,” the agency said.
“Even so, the authorities remain vigilant and recently raised interest rates again to curb inflation amid firm domestic demand and record low unemployment.”
The agency said the major near-term threat to Australia’s credit outlook was from the unpredictable course of commodity prices and their potential impact on the exchange rate, interest rates and incomes.
Long way to go yet in the outback.
Dom [biggrin]
I feel that any area has potential, however it is what you do with it that matters. Mt Isa has been booming for quite some time & doesn’t look like stopping in the near future. I have been researching & watching there myself for some time, however I feel I am too far away to keep a good eye on what is happening with my IPs. So I chose somewhere more local. The choice is only yours to make.
My opinion is that you need to find the area that you are comfortable investing in, do the research, do the figures & take action if all is good.
Take action is the important part…
Cheers DiCopper mine set to boost north-west jobs
A mining company says up to 80 new jobs will be created when a new copper mine is opened in north-western Queensland.
Matrix Metals has announced it will mine its Mount-Watson/Mount Cuthbert Project, north of Mount Isa, with production set to begin by mid-2007.
Managing director Andrew Chapman says the initial target is to mine more than five million tonnes per annum using existing infrastructure from an old mine site.
“We have in the last month or two been assessing the potential of reopening Mount Cuthbert based on that new ore supply from Mount Watson and that has turned out for us to be a very short-term opportunity for us to get back into production and with copper prices where they are … seeing a very, very significant cashflow coming out of that,” he said.
Print-friendyversionPrint Send to a friendEmailHi Dom,
Good news on new mine to open, had not heard of that one. I had a look at mining company Summits web site and had an interesting read as to what will happen once it gets the go ahead for urainium
mining 40klm outside Mount Isa. 600 jobs to be created, 600 million to be spent, 10-25 year mine life, company will source as much labour and materials from Mount Isa as it can. Exciting times for north west Qld I believe.Don
djr
As the name western buyer sugest I live in the Mt Isa region. When I fisrt move to the Isa I was getting properties around the 60,000 mark that has now gone. Though in any market there are still bargians to be had but you need to be smart on how you go about investing out here. The market has risen a lot in the last couple of years but there is still room for movement. Though there may be some fly in fly out workers their are a lot of people who live in the town and need housing. Though the real money to be made out here is if you are a handy man as getting a builder is hard and very expensive (around 80 to 100 hour mark) so if you do a reno you will do well.
Hi everyone,
I know this is an old post but i would like to know if anyone is looking or holding in mount isa. It seems prices just keep going up. Would really like some feedback as i am about to sell a property in mount isa. Not sure if it si right thing to do even thought the price is good in my opinion.
Cheers
Dom
You must be logged in to reply to this topic. If you don't have an account, you can register here.
