So far just in the Hunter Valley (not sure on Qld numbers but know it is similiar) they have approx 1000 workers out of the mining area, 3-4 mines have closed or gone into maintenance ( I believe another 500 workers under threat presently), either way an expensive exercise to get back to production. Same is happening around the world so production and stockpiles are starting to decrease slowly and those closed or in maintenance will need significant changes in pricing to bring back on line so would expect that in like 2-4 months we will start to see steady increases in all commodities as a result as effecting all areas. I know my Son is in Pilbara region and they have been decimating staff numbers in last year so similar effects.
Pure and simple supply and demand except maybe a few more people assessing total world production before huge capital spends into the future. And any small gain will mean increased Capital spends as most miners currently on Maintenance and limited replacement of equipment so will have a roll on effect to support companies but it wont get to the levels of 2 years ago, but these influences should give this site a prime seat in a few months, because of the reasons stated in previous post.
PDZ Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
