Latest news with #miningroyalties
Yahoo
24-07-2025
- Business
- Yahoo
Why your living standards will fall by $75k
The country's living standards are tipped to fall over the next decade as ailing mining royalties and sluggish productivity smashes every Australian. Analysis by Westpac senior economist Pat Bustamante found mining delivered more than 50 per cent of the gains in Australians' living standards for the two decades until 2020. But this will come to an end as falling commodity prices and a lack of investment from the miners themselves means Australia will no longer be the 'Lucky Country.' 'Without change, Australians are in for a period of anaemic growth in living standards over the next decade,' Mr Bustamante wrote in an economic note. 'This will cost the average Australian $75,000 in income over the next decade.' While living standards is not a direct measurement of how much every Aussie pockets, it does give an indication of the income available to every country's resident by dividing total income by total people. Mr Bustamante said the contribution mining had made to Australians' living standards had been primarily driven by rising export prices with iron ore which soared in recent decades. But Westpac says the price of iron ore which is around $US103 a tonne today will slide to $US84 by 2027. 'And while we don't all 'work in the industry', we benefit indirectly from the demand for ancillary services, the investment undertaken by the industry, including in infrastructure like roads and ports, and the tax paid by the industry,' he said. 'Indeed, a large reason why the federal government and the mining states have been able to provide cost of living support, and increase the scope of public services, without becoming heavily indebted is because of the windfalls provided by the mining industry.' But Westpac warns mining investment 'stalled' in post 2008 and another commodities super cycle is unlikely to occur. Despite the warning, Mr Bustamante said Australia could offset the falling commodity prices if there is an uptick in productivity. 'Even without the 'free kick' from mineral export prices, productivity and growth in living standards can be put on a sound trajectory,' he said. 'But this requires changes in business practices, policy and culture, which will allow us to benefit from the technological advances already happening and in train.' Treasurer Jim Chalmers has identified improving productivity as a major focus for the Albanese government's second term. Mr Chalmers will host an economic reform roundtable on August 19 to 21 to look at improving productivity, enhancing economic resilience and strengthening budget sustainability. Sign in to access your portfolio
News.com.au
24-07-2025
- Business
- News.com.au
Lucky Country era ending as commodity prices set to tumble
The country's living standards are tipped to fall over the next decade as ailing mining royalties and sluggish productivity smashes every Australian. Analysis by Westpac senior economist Pat Bustamante found mining delivered more than 50 per cent of the gains in Australians' living standards for the two decades until 2020. But this will come to an end as falling commodity prices and a lack of investment from the miners themselves means Australia will no longer be the 'Lucky Country.' 'Without change, Australians are in for a period of anaemic growth in living standards over the next decade,' Mr Bustamante wrote in an economic note. 'This will cost the average Australian $75,000 in income over the next decade.' While living standards is not a direct measurement of how much every Aussie pockets, it does give an indication of the income available to every country's resident by dividing total income by total people. Mr Bustamante said the contribution mining had made to Australians' living standards had been primarily driven by rising export prices with iron ore which soared in recent decades. But Westpac says the price of iron ore which is around $US103 a tonne today will slide to $US84 by 2027. 'And while we don't all 'work in the industry', we benefit indirectly from the demand for ancillary services, the investment undertaken by the industry, including in infrastructure like roads and ports, and the tax paid by the industry,' he said. 'Indeed, a large reason why the federal government and the mining states have been able to provide cost of living support, and increase the scope of public services, without becoming heavily indebted is because of the windfalls provided by the mining industry.' But Westpac warns mining investment 'stalled' in post 2008 and another commodities super cycle is unlikely to occur. Despite the warning, Mr Bustamante said Australia could offset the falling commodity prices if there is an uptick in productivity. 'Even without the 'free kick' from mineral export prices, productivity and growth in living standards can be put on a sound trajectory,' he said. 'But this requires changes in business practices, policy and culture, which will allow us to benefit from the technological advances already happening and in train.' Treasurer Jim Chalmers has identified improving productivity as a major focus for the Albanese government's second term. Mr Chalmers will host an economic reform roundtable on August 19 to 21 to look at improving productivity, enhancing economic resilience and strengthening budget sustainability.
Associated Press
24-06-2025
- Business
- Associated Press
Gleason & Sons Increases Its Holdings in Elemental Altus Royalties After Tether's Investment, Expanded Revenues
CHARLOTTE, NORTH CAROLINA / ACCESS Newswire / June 24, 2025 / Gleason & Sons LLC today announced today it has acquired nearly one million common shares of Elemental Altus Royalties Corp. ('Elemental Altus' or 'the Company') (TSXV: ELE )(OTCQX: ELEMF ) via ongoing open market purchases. 'We are pleased to be increasing our long-term investment in Elemental Altus as its management team transitions the Company into an exciting new growth phase - having paid off all debt, booked its most profitable quarter ever, and streamlined its governance structure,' said Stefan Gleason, managing director of Gleason & Sons. 'Elemental Altus is now 'locked and loaded' with an unused $50 million credit facility, more than $20 million in cash, and a new, deep-pocketed major shareholder in Tether Investments that understands the importance of accumulating hard assets. 'The Company's prior investments have created an expansion of payable ounces, revenues, and net income at the most opportune time, given the ongoing rally in gold prices. 'We believe Elemental Altus remains significantly undervalued and is well positioned not only to acquire additional royalties but also, potentially, to serve as a catalyst for consolidation in the mining royalty space.' Gleason concluded. Gleason & Sons is the family office of Stefan Gleason, a Charlotte-based entrepreneur who owns several privately held businesses in the United States, including Money Metals Exchange LLC. Money Metals is one of the largest precious metals dealers and depositories in North America with nearly one million customers and over C$1 billion in annual revenues. Gleason & Sons specifically targets equity and debt investments in mining royalty companies. Historically lower risk than direct investments in miners and explorers, the royalty model appears ideally positioned for an inflationary environment. Metals prices tend to rise, yet the royalty holder is insulated from the downside of higher operating, exploration, and capital costs at the underlying mines as well as other risks. Stefan Gleason Gleason & Sons LLC Tel: 208-577-2230 This release includes certain statements that may be deemed 'forward-looking statements.' All statements in this release, other than statements of historical facts, that address anticipated future events are forward-looking statements. Although the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. SOURCE: Gleason & Sons LLC press release
