Energy / Resources
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International Energy Agency tell us profits are a pipe dream
David Buckland
September 7, 2015
I have written several times about the major Australian based LNG projects, many of which will be soon be coming on stream, for a combined investment of around $200 billion. continue…
by David Buckland Posted in Energy / Resources, Insightful Insights.
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Major Downer
Russell Muldoon
August 7, 2015
Downer Edi Limited (ASX: DOW) just released its annual report for the period ending June 2015. It’s a sobering read for anyone still invested in businesses focused on engineering, infrastructure and contracting. continue…
by Russell Muldoon Posted in Energy / Resources, Insightful Insights.
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Iron Ore’s Train Wreck
Roger Montgomery
August 5, 2015
When Iron Ore was trading above $120 we challenged the iron ore industry’s view that the commodity price would remain supported. Indeed in this post back in 2012 we noted; “FMG’s Nev Power reckons while iron ore prices have slumped to $US104 a tonne in recent days, “as soon as restocking and production returns to normal we expect to see prices back in the $US120 to $US150 per tonne range”.
by Roger Montgomery Posted in Energy / Resources, Insightful Insights.
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Farming for returns
Scott Shuttleworth
May 28, 2015
We were recently asked by a reader why our portfolio currently contains no investments in the Australian food/agricultural sector and we noted internally that this was a very good question to ask. continue…
by Scott Shuttleworth Posted in Energy / Resources, Insightful Insights.
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Oh Dear! (Part II)
David Buckland
May 25, 2015
In a follow up to Roger’s blog last week entitled “Oh Dear!” I was surprised the question of “Whether we should have an inquiry into the iron-ore industry or not?” has received so much air-time. continue…
by David Buckland Posted in Energy / Resources, Insightful Insights.
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Industrials vs. Resources
Russell Muldoon
May 22, 2015
Long-term followers of Montgomery Investment Management would know all too well that we have had very little (we have had some) exposure to resources and energy companies since we began on our investing journey. Looking forward, we are just as unlikely to ever hold anything like benchmark weights to these sectors in our funds and for good reason. continue…
by Russell Muldoon Posted in Energy / Resources, Insightful Insights.
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Mining Boom 2.0
Ben MacNevin
May 21, 2015
The iron ore price has become a barometer for the strength of the mining industry in Australia. Yet, mining investment has actually surged since the iron ore price began its descent in 2013. The real mining boom is only just about to end. continue…
by Ben MacNevin Posted in Energy / Resources, Insightful Insights.
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Drums of the island
Roger Montgomery
May 14, 2015
On Lord Howe island, in January this year, I sat reading The Australian. The paper was two days old – a function of relying on the airlines to deliver the papers and the fact that ‘island life’ means islanders aren’t that interested in the content. What didn’t age however was the human tendency to overreact.
by Roger Montgomery Posted in Energy / Resources, Insightful Insights.
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China Dumping Steel Is a Cause for concern
David Buckland
March 25, 2015
Following on from my previous blog where I passed on the concerns of the executives from Arcelor Mittal, it now appears the US, the world’s second-biggest steel consumer, is seeking political support for tariffs on imported steel. continue…
by David Buckland Posted in Energy / Resources, Insightful Insights, Manufacturing.
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China dumping steel is a cause for concern – Part 1
David Buckland
March 16, 2015
China is expected to produce at least 825 million tonnes of steel this year and the likes of BHP Billiton Limited (ASX: BHP) and Rio Tinto (ASX: RIO) believe this figure will grow at 2.5 per cent per annum over the next decade to 1,050 million tonnes. Some commentators however are starting to question whether China’s steel production has already reached a turning point, and if this is so my advice to our readers is not to get bullish on iron-ore companies any time soon. continue…
by David Buckland Posted in Energy / Resources, Insightful Insights.
