Live Local or FIFO?… There’s Opportunity for Investors in Both!

//Live Local or FIFO?… There’s Opportunity for Investors in Both!

A recent article in the Courier Mail highlighted a dilemma that’s been facing the mining industry for some time now… how to accommodate the large number of employee’s they need to make the most of our current resources boom.

The article (below) talks about the challenges in finding accommodation for workers to ‘live local’ to the mine sites they work in and balancing that against those who FIFO… or ‘Fly In, Fly Out’.

We think there are opportunities for savvy investors in both because it means more rental properties will need to be built in mining towns and also because desirable coastal areas like the Sunshine Coast will benefit from the remaining 70 – 80% of workers who will choose to fly in and fly out from lifestyle locations where their families will live… either way, a win win for Investors.

(Article below written by John McCarthy in The Courier Mail September 02, 2011)

Live local policy forced on BHP

THE State Government has dramatically altered conditions for BHP Billiton’s $4 billion mega mine at Caval Ridge, near Moranbah, in central Queensland, by imposing a “social” bill on the company.

The bill will force BHP to build 400 residential houses and restructure its regional workforce so that at least 20 per cent live locally, while the rest are fly-in, fly-out.

BHP had previously won approval for the mine with a workforce of 70 per cent FIFO, but then outraged the local community by pleading for 100 per cent FIFO because the skills crisis hit and that meant it could not get a workforce locally.

The new conditions mean that BHP may still get its 100 per cent FIFO, but it will have to balance that across its regional workforce with locally-employed workers.

BHP had previously said that unless it could find a workforce it would not go ahead with the project.

The Government’s Co-ordinator General also approved the company’s accommodation village at Buffell Park, overturning the decision of the Isaac Council.

The imposition of a housing strategy is in line with the Bligh Government’s policy of making mining companies provide social infrastructure for the communities they work in.

Coal seam gas companies have also recently announced more than $70 million in housing for communities in Roma and Gladstone.

If you’d like to know more about investment opportunities in some of these areas, contact your Property Coach or call 1800 248 911 and ask to speak to one.