Looks like Premier Barnett has really got his mind set on building the port.
Some may see the extension or delay as a negative, but I just checked the website of Minister Albanese, (Federal Minister for Infrastructure, Transport,Regional Development and Local Government). One of his press releases dated 13 May refers to the Fund:
Here's an excerpt "...$20 BILLION FOR NATION-BUILDING PROJECTS
The Rudd Labor Government has used its first Budget to make a substantial down-payment of its pledge to fix and modernise the nation's infrastructure.
The Government has taken the far-reaching decision to allocate an initial $20 billion to its Building Australia Fund, money which in the years to come will be used to build critical economic infrastructure such as roads, rail, ports and broadband....
...We expect to have the Fund up and running by 1 January 2009, with the first allocations to be made in 2009-10...
Allocations from the Fund will be guided by Infrastructure Australia's national audit and infrastructure priority list the first of which will be presented to the March 2009 meeting of COAG.
As well as being a key element to our macro-economic strategy for tackling inflation and boosting national productivity, the Fund will:
Help our manufacturers, farmers and miners get their goods to market as quickly and cheaply as possible....
etc... etc...
So this delay is only in line with the timetable of the fund, and could even be delayed a few weeks longer until the COAG meeting in March. In any event, it appears that the WA govt is serious about this investment and will be making a submission for Federal funding in the appropriate forums early next year.
So, it is not due to any incompetence of the MMX board (cpg please take note)
Nor is it due to the CHM court case (all clowns in the CHM circus please take note)
MMX Price at posting:
60.5¢ Sentiment: Buy Disclosure: Held
