The tip is now charging $165 a tonne to take scrap metal now as the price is so low .
Scrap metal merchants won't take it only sims metal or major steel recyclers like that .
And they are only paying $10 a tonne now
Must be hugely impacting on the mining industry.
But I remember just before the boom it was around that price & tip still took it for free & when the boom came it must have been a gold mine for them & Now at $165 a tonne it will be again
On the broacher it says that when the price goes back up they will start to take for free, as if thats going to happen they will just double dip bastards

The boom prices are unlikely to happen again because there is unlikely to be a repeat of China's expansion program.

So all the mines which started up during the boom and there were a shot load of them world wide have now created a massive glut in the market.

Subsequently with the price plummeting through the floor boards the more marginal operations will go belly up.

The corpses of these companies with all their infrastructure and leases will then be swallowed up by larger miners.

They will also be bought by Chinese government owned companies, who contrary to the normal stock market once they own something do not sell it off.

Once owned they run the place with Chinese labour, sell the ore at below cost (they are selling to their own company) this reduces royalties to the host nation and if they run at a lost most likely avoid tax as well.

Just as well Australia has built up and supported a wonderful and diverse manufacturing industry and doesn't sell itself one boatload at a time.

Amazingly if Australia is selling their land to overseas owners or domestic magnates that that will be possibly a dollar for acre of the dirty mine or green farming land.

If you or me want to buy a piece of land to do something useful with it, that is beyond affordability and any economic sense.Ten of thousand people could possibly utilize the same area much more effectively then Gina interested only in digging big hole.But if you want to run a farm , orchard or small industrial yards there is no land to buy in continent size almost empty country.

For example If I want to buy few hectares of desert, dig 20 meters wide trench 500 meters long and fill with water for speed run. Technically feasible engineering work, affordable and doable, but for the piece of dirt will cost a fortune.

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Macroscien said..
Amazingly if Australia is selling their land to overseas owners or domestic magnates that that will be possibly a dollar for acre of the dirty mine or green farming land.

If you or me want to buy a piece of land to do something useful with it, that is beyond affordability and any economic sense.Ten of thousand people could possibly utilize the same area much more effectively then Gina interested only in digging big hole.But if you want to run a farm , orchard or small industrial yards there is no land to buy in continent size almost empty country.

For example If I want to buy few hectares of desert, dig 20 meters wide trench 500 meters long and fill with water for speed run. Technically feasible engineering work, affordable and doable, but for the piece of dirt will cost a fortune.

You need to get it as a mining lease and create a 'tailings pond'. If you forget to actually mine, and the pond is clean, I guess that's the risk you take.

Maybe mine for some really rare mineral, and take a handful of dirt up each week?

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actiomax said..
The tip is now charging $165 a tonne to take scrap metal now as the price is so low .
Scrap metal merchants won't take it only sims metal or major steel recyclers like that .
And they are only paying $10 a tonne now
Must be hugely impacting on the mining industry.
But I remember just before the boom it was around that price & tip still took it for free & when the boom came it must have been a gold mine for them & Now at $165 a tonne it will be again
On the broacher it says that when the price goes back up they will start to take for free, as if thats going to happen they will just double dip bastards

I think I got in early. I tried to take a load to a scrap metal place before christmas and when he told me that they had just started charging to take it, I made a beeline for the local tip where it was still accepted as 'free'.

It sounds like I got in at the right time.

I do still wonder why they won't take it when the cost of 'free' is still less than the cost of the iron ore. I guess they need to take transport charges into account.

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FormulaNova said..
I do still wonder why they won't take it when the cost of 'free' is still less than the cost of the iron ore.

I have two big fridges to rid off and nobody want to take even for free.

I guess even if I fill with free beer still will not go anywhere.

Who want a warm beer if fridge is not working ?

Why don't you chill out

Must be on the rise $30 a ton for scrap Saturday

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actiomax said..
Must be on the rise $30 a ton for scrap Saturday

Maybe the initial reaction to the low prices was to stop accepting it and wait to see where the price went.

Now, they have probably worked out that paying $30 a tonne for steel is cheaper than refining the ore.