Do you work in the resource industry?

Over the last 12 months I’ve published a number of posts specifically for those of you working in the resources industry. As more and more of you connect with me on LinkedIn, it’s becoming increasingly clear, people in the resource industry need to review their Superannuation and Insurance. It’s a positive opportunity to “get your financial self and your future self - sorted.” In the last 12 months there has been little improvement in the resource industry. We’ve seen an improvement in the spot price of coal, in particular coking coal, however this has yet to translate into a meaningful and sustained increase in activity. How do I know this? My client base is a high percentage of resource industry people - just like you, and I speak with them regularly. Also, as a Site Senior Executive (SSE) I keep up to date with contractors, suppliers, exploration/mining managers and other SSEs. What I’m hearing is, there is light at the end of the tunnel, but we’re not likely to see a return to the glory days of a few years ago any time soon. Many exploration and mining projects are still on hold. Redundancies continue, and to make things worse, industry super funds continue to provide very poor returns despite solid gains on local equity markets. We have little control over the state of the resources industry. However, we can control where our super is invested and how our insurance is structured. Check your recent statement from your super fund which you should have received over the last few months. As we approach the end of the year and the onset of the wet season in Queensland, traditionally we will see a further slowdown. Particularly in exploration projects. Why not use this time wisely? Let’s sit down over a coffee and see if we can improve your situation. It’s an opportunity to discuss the state of the industry and I’m more than happy to share any current opportunities within the industry that I hear about via my client base and network. I’m regularly contacted by exploration and tech services managers notifying me of upcoming projects. If you’re not happy with the returns your super fund is producing, don’t ignore it. Do something about it. After all, it is your money.

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