[Financial News]
Deloitte Immigration Business Director: Australian visa approval is too slow and skilled immigrants are turning to other countries
Deloitte National Immigration Business Director Fiona Webb said that due to long-term border closures and slow visa approvals, Australia has a poor impression in the minds of skilled immigrants. Not good. Australia's skills shortage will further intensify as borders reopen and young Australians seek overseas job opportunities.
Webb said in an interview with "The Australian" that due to the long approval time, many skilled immigrants choose to accept jobs in other countries. The Australian visa approval process is very slow, coupled with the uncertainty about obtaining permanent residence status, which means that excellent skilled immigrants are losing to other markets, and employers miss out on employment opportunities.
She pointed out that there are currently serious skills shortages in IT professionals, data scientists , people in the health and education industry, and other occupations such as bus and train drivers. The employment situation in some industries is very poor, especially in local areas.
The labor shortage crisis continues to spread. Nearly one-third of Australian companies are in a recruitment shortage.
The June Business Conditions and Sentiment Survey released by the Australian Bureau of Statistics (ABS) on Thursday showed that nearly one-third (31%) of Australian companies reported that , having trouble recruiting the right employees to fill jobs, up from 27% last year. According to reports, the lack of job seekers or the lack of skills and experience of job seekers are the two main reasons why companies fall into recruitment shortages.
Among them, 29% of small enterprises face recruitment difficulties, while the proportion of large enterprises and medium-sized enterprises that also face recruitment difficulties are 66% and 62% respectively. However, the business operations of large enterprises are less susceptible to impact than small and medium-sized enterprises.
Image source: ABS
Andrew McKellar, CEO of the Australian Chamber of Commerce and Industry, said that the labor shortage is at its worst in the past 50 years, and many employers have been forced to significantly reduce production capacity or close their doors completely.
The data shows that accommodation and food services, education and training, administrative and support services, retail trade and house construction are facing the most severe staff shortages.
Image source: ABS
According to the ABS report, Australian companies will begin to take some measures to alleviate labor pressure. 30% of companies plan to increase wages or salaries, and some companies plan to increase the number of employees (27%) and retrain existing employees. (23%), rearranging job roles and responsibilities (21%) and other methods to solve the problem of labor difficulties.
Australian household wealth hit a record high, with rising house prices as the main driving force
According to data released by the Australian Bureau of Statistics (ABS), the total value of Australian household wealth increased by 1.2% to AU$14.9 trillion in the first quarter of this year, and the average personal wealth rose to AU$574,807. Both data hit record highs.
Residential property values continued to drive household wealth growth, contributing 1.4 percentage points to household wealth growth. Since the first quarter of 2020, Australian household wealth has surged by 35.3%, mainly due to rising asset prices. Average personal wealth increased by A$146,008. Since the outbreak of the COVID-19 pandemic, Australian households have accumulated $305 billion in cash and savings.
Since the outbreak of the new coronavirus, residential real estate values have increased by 39.9%, making the largest contribution to the growth of household wealth. During the same period, total pension funds increased by 22.5% as 's loose monetary policy drove the stock market to rise.
Winter is coming. Influenza is raging. The New State government encourages residents to get free flu vaccines.
Data shows that in the one week to June 18, a total of 211 New South Wales residents were hospitalized for treatment due to influenza infection. So far this year, about 9,400 people have received emergency room treatment for flu symptoms, with more than 1,300 hospitalized.
announced that all New South Wales residents over 6 months old can receive free flu vaccination before June 30 this year. From June 1st to 30th this year, free flu vaccinations will be available at the following locations:
· Aged 6 months or older, GP surgeries.
·Ages 5 years or older, various pharmacies.
In the announcement, the New State Government Health Department also made the following recommendations:
·If you feel unwell, you should stay home, get tested for the new coronavirus immediately and self-isolate.
·Wear a mask indoors and in other places where distance cannot be maintained.
·The party should be held outdoors as much as possible. When indoors, the space should be large and well-ventilated.
·Pay attention to personal hygiene and wash hands or disinfect frequently.
· Get a COVID-19 rapid antigen test before visiting people in ill health or attending large events.
· Get the latest coronavirus and flu vaccine information from the government.
Victoria has added 7723 new cases of COVID-19 and 20 people have died
As of last night, Victoria has added 7723 new cases of COVID-19 (previous value 7461), a slight decrease from the previous value, including 5583 rapid detection RAT cases and 2140 nucleic acid detection PCR cases. People died of illness. Yesterday, a total of PCR detected 12755 (previous value 7702). There are 42,037 active cases (previous value: 41,503), a slight increase from the previous value.
There are currently 412 epidemic-related hospitalized patients in Victoria (previous value 411), ICU 27 patients (previous value 23), and 11 people need ventilators. The number of hospitalized patients increased slightly, and the number of critically ill patients increased significantly.
As of last night, the three-dose vaccination rate for those over 18 years old in Victoria has exceeded 68.2%, and the two-dose vaccination rate for those over 12 years old has exceeded 94.6%.
Victoria Ministry of Health
New state has 9136 new cases and 14 deaths
In the 24 hours as of 8 o'clock last night, there were 9136 new confirmed cases (previous value 9203), a slight decrease from the previous value. Among them, there are 4550 PCR cases and 4586 RAT cases confirmed by rapid testing. 14 people died from the disease (previously 26).
The current number of COVID-19 hospitalizations in New South Wales is 1,455 (previous value: 1,500), and 54 (previous value: 53) patients are receiving intensive care in the ICU. The number of hospitalized patients has decreased significantly, while the number of severely ill patients has increased slightly.
Data source: New South Wales Department of Health
As of June 21, the one-dose vaccine vaccination rate for residents over 16 years old in New South Wales has reached 96.6%, the two-dose vaccination rate has reached 95.1%, and the three-dose vaccination rate has reached 64.3%. 82.7% of adolescents aged 12 to 15 years have received one dose, and 79% have received two doses. 49.7% of children aged 5 to 11 have received one dose of vaccine.
[Australian shares]
The sixth lithium concentrate auction price reached a new high Pilbara denied the market peaking theory
On Thursday, Australian mining company Pilbara Minerals (ASX: PLS) announced that in its sixth BMX, it was officially Before the auction, the company had received a bid of US$6,350/dry metric ton for 5,000 tons of lithium oxide lithium concentrate with a grade of about 5.5%, and the announcement showed that Pilbara had accepted the offer. After proportionally adjusting the lithium grade and freight, based on the SC6.0 CIF Chinese price, the product will be priced at an astonishing US$7,017/dry metric ton, 6.5% higher than the price of the same cargo auctioned by the Pilbara last month.
Shortly before the Pilbara announcement, Goldman Sachs analysts issued a bearish lithium industry report, predicting that lithium chemical prices will fall by nearly 80% to US$16,000/ton next year, a forecast that is partly The impact on the market has caused a heavy sell-off of ASX lithium shares.
But Dale Henderson, Pilbara’s incoming managing director and CEO, said that this pricing further proves that the market has unprecedented demand for lithium, a raw material for batteries, and that the time for high lithium prices is approaching.
"Contrary to recent claims that the market has peaked, customer response and this pricing result indicate that demand remains very strong and the outlook for lithium products remains bright for the foreseeable future."
Westpac expects Australian cash rate next year It peaked at 2.6% in February
Westpac Westpac Chief Economist Bill Evans expects Australia’s cash rate to reach a peak of 2.6% in February next year, a further increase from the previous forecast of 2.35%.
In the past two months, the Reserve Bank of Australia has raised interest rates by a total of 585 basis points. RBA Governor Lowe said that "the resilience of the Australian economy and rising inflation mean that extraordinary support measures are no longer needed." Evans expects that the central bank will raise interest rates by 50 basis points in July and August respectively. The RBA will press the "pause" button in September and carry out the last two 25 basis point interest rate hikes in December and January next year.
Evans believes that rhythmic adjustment of the pace of interest rate hikes at different stages will help achieve the core goal of this tightening cycle and send a clear signal to economic participants - the Reserve Bank of Australia is committed to returning inflation to the target range in the medium term. Any expected increase in inflation will be curbed.
Qantas will issue a conditional bonus of AUD 5,000 and negotiate with the union for a 2% salary increase Accept the latest collective bargaining agreement.
Qantas said the total prize money is about A$87 million. Currently, nine agreements have been reached with unions covering 4,000 employees. Qantas chief executive Alan Joyce said the bonus was in addition to employee stock options announced earlier this year. At the same time, the bonus also recognizes the work of employees as Qantas gets back on track.
In addition, Qantas is negotiating with the union to increase employee wages by 2%, which is far below the rate of inflation. Qantas previously froze salary adjustments during the two years of the COVID-19 pandemic.
BetMakers announced a stock buyback plan and its share price soared 15%
Sports betting technology company Betmakers Technology Group (ASX: BET) announced on Friday that it will begin to buy back up to 10% of the company's shares in the market on July 12. The repurchase will be funded from the company's existing cash reserves.
The company's CEO Todd Buckingham said the company's "financial position is strong" and " cash flow is improving" and that current market dynamics provide the company with "opportunities to maximize shareholder value through buybacks."
Affected by the announcement, BetMakers' stock price rose sharply in early trading on Friday. The transaction price at 10:19 was 0.345 Australian dollars, an increase of 0.045 Australian dollars, or 15%. The stock's investment return in the past year was a loss of 71.37%.
Vulcan strengthens cooperation with European automobile giant Stellantis, and its stock price soared by more than 20%. Lithium producer Vulcan Energy (ASX: VUL) announced on Friday that European automobile giant Stellantis has become its second largest shareholder. Stellantis owns many brands including Peugeot, Maserati and Fiat, and has followed Tesla into the upstream of the supply chain.
Stellantis has purchased 50 million euros (A$76 million) worth of Vulcan shares and owns 8 per cent of Vulcan, the company said. The two companies have signed an offtake agreement. Under the agreement, Vulcan plans to use geothermal energy to extract lithium hydroxide from brine deposits in Germany's Upper Rhine Valley. The agreement has been extended for five years to 2035.
Affected by the announcement, Vulcan’s stock price rose sharply in early trading on Friday. The transaction price at 10:52 was 6.02 Australian dollars, an increase of 1.02 Australian dollars, or 20.40%. The stock's return on investment in the past year was a loss of 23.70%.
Super lithium mining stock Leo Lithium debuts on the ASX, with 300 million Australian dollars in cash in hand Ganfeng Lithium fully supports
is strongly supported by Ganfeng Lithium, holding 300 million Australian dollars in development funds, and sitting on world-class lithium resources. ASX300 component stock has just been listed... Leo Lithium, a rising star in lithium mining stocks with many auras, finally made his debut on the ASX.
Leo Lithium Ltd (ASX stock code: LLL) was listed on the ASX on Thursday. However, its performance on the first trading day was unsatisfactory. opened at 11:00 a.m. and quickly fell after trading. At the end of the day, dived 25.71%, closing at 0.52 Australian dollar, with daily trading volume of 52.35 million shares.
LLL’s IPO, with Macquarie Capital, Canaccord Genuity and Euroz Hartleys serving as co-lead brokers, issued 142 million new shares at a price of 0.7 Australian dollars, and ultimately successfully raised more than 100 million Australian dollars. The company's initial market capitalization exceeds A$500 million and will soon be included in the ASX300 stock index.
According to the announcement, the Goulamina project, a world-class mineral deposit being developed by Leo Lithium, is located in Mali, Africa. It is a "long-life, large-scale, hard rock, open-pit type lithium mine" and is the world's next large lithium mine with production potential. The large-scale lithium project is also the first hard rock lithium project in West Africa and is of great strategic significance to meet the world's growing demand for lithium.
Leo Lithium and Ganfeng Lithium have formed a 50:50 joint venture entity for the development of the Goulamina project. Leo Lithium confirmed on Thursday that the US$130 million (approximately A$190 million) committed by Ganfeng Lithium has been secured.
Ganfeng Lithium Industry underwrites half of the output of the first phase of the project
Goulamina is currently one of the few lithium projects in the world that is in the development stage and has sufficient financial support.
According to the announcement, the annual production capacity of spodumene concentrate is expected to reach 506,000 tons after the first phase of the Goulamina project is put into operation, and will be increased to 831,000 tons in the second phase. The project mainly produces high-quality spodumene concentrate with a grade of Li2O of 6%. The ore has low impurity levels and can be successfully converted into battery-grade lithium hydroxide after testing.
Leo Lithium, the project operator, said that due to the over-subscription of the initial public offering and the financial support of the joint venture partner Ganfeng Lithium Industry, the company currently has sufficient funds to successfully complete the production and operation of the first phase of the project.
It is worth noting that in addition to the US$130 million in equity investment already in place, Ganfeng Lithium has also promised to arrange debt financing of US$40 million to US$64 million for the project.
A-share , Ganfeng Lithium disclosed in December last year that it had acquired 50% of the equity of the Dutch SPV company for US$130 million, and is expected to obtain the underwriting rights for 50% of the annual production capacity of spodumene concentrate in the first phase of the Goulamina project.
If the company directly provides financial assistance or assists the project in obtaining debt funds from third-party banks or other financial institutions, it can obtain the underwriting rights for the remaining 50% of the project's first-phase production capacity.
(Picture source: LLL)
The first batch of lithium concentrate will be shipped in the first half of 2024
According to the announcement, the primary goal of Leo Lithium after listing is to promote the construction and operation of the first phase of the project in accordance with the plan, and achieve the first batch of SC6 Lithium sold in the first half of 2024 Stone products target. In terms of follow-up exploration, the company will use infill drilling and expansion drilling to further increase the mineral resources and ore reserves of the open-pit mine.
Simon Hay, managing director of Leo Lithium, said that the company was able to complete the divestment of Firefinch's assets from to a successful IPO listing, and received strong support from the board of directors, consultants, Firefinch and Ganfeng Lithium. It is worth noting that Simon Hay is a veteran in the global lithium mining industry and has served as CEO of lithium mining giant Galaxy Resources for a long time.
Simon Hay, managing director of Leo Lithium (Photo source: LLL)
Hay said that Leo Lithium looks forward to working with its joint venture partner Ganfeng Lithium to fully realize the development potential of the Goulamina project and promote its commissioning. The company will immediately launch the 2022 drilling plan and start equipment procurement and mine road laying.
"I look forward to continuously updating shareholders on all aspects of progress as we rapidly promote the Goulamina project into production."
(Image source: LLL)
The total output of lithium concentrate will reach 15.6 million tons
Goulamina is expected to become one of the largest spodumene projects in the world. The project has the world's leading hard rock lithium resource scale, with mineral resources reaching 108 million tons, Li2O grade 1.45%, ore reserves of 52 million tons, and Li2O grade 1.51%.
According to the latest version of Leo Lithium’s investor presentation materials, the final feasibility study shows that the mine life cycle of the Goulamina project is 21 years, and the total concentrate output is expected to reach 15.6 million tons during the entire mining period.
In terms of project economics, the after-tax net present value (NPV) of the Goulamina project at an 8% discount rate reaches US$2.9 billion, with an internal rate of return of 83%.
(Picture source: LLL)
Chinese giants interact frequently with ASX lithium mining stocks
In the past year, news of investment cooperation between Chinese lithium giants and ASX listed companies have continued to pour out.
The cooperation between Ganfeng Lithium, Firefinch and Leo Lithium on the Goulamina project is reminiscent of another quite similar cross-border lithium mine investment plan:
CATL and Tianhua Times announced last year that they would inject US$240 million ( (approximately RMB 1.552 billion), and jointly develop the Manono lithium mine project with ASX-listed company AVZ Minerals (ASX: AVZ), which is also located in Africa.
(Extended reading "AVZ accelerates the introduction of China's lithium industry investment Tianhua Times 240 million US dollars is expected to be in place in March ")
At the same time, the development potential of Australian lithium ore deposits has also attracted more and more attention, including Ganfeng Lithium Industry last year in 8 Monthly investment in Core Lithium (ASX: CXO), which owns lithium exploration projects in Australia;
(Extended reading "Core Lithium and Ganfeng Lithium Signed an Underwriting and Investment Agreement")
In March this year, entities related to CATL and Tianhua Ultra-Clean entered into a Global Lithium (ASX:GL1), which develops lithium mines in Western Australia, signed a product offtake agreement.
CATL also participated in the new lithium mine stock Lithium Plus (ASX: LPM) through its subsidiary. .
LPM owns 5 exploration projects in the Northern Territory of Australia, including the Bynoe Lithium Project. The stock has enjoyed strong growth since it was listed on the ASX at the end of April, rising nearly 48% in the past two months.
(Extended reading " CATL Subsidiary Participates in Investment! Lithium Plus ASX Debuts Stunning Single-Day Soaring 180% ")
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