42% of Australian mining leaders to increase spending in 2017-2018

By Jonathan Dyble
According to Newport Consulting’s Mining Business Outlook Report, looking at the performance expectations of the Australian mining industry for 2017-2...

According to Newport Consulting’s Mining Business Outlook Report, looking at the performance expectations of the Australian mining industry for 2017-2018, 42% of the country’s industry leaders are expected to increase spending throughout the period in question.

This is up from 23%, reflecting a positive and confident sentiment within the industry. In fact, Newport Consulting suggests that the number of miners showing a more optimistic outlook has increased 55% since 2015.

See also:

Further, the survey has found that a greater proportion of this spending will be attributed to emerging technologies such as big data and automation throughout the coming year, with 21% of respondents having stated that automated systems will be a significant industry influencer during 2018.

However, as a result of the increased used of technology in the sector, Newport Consulting’s Managing Director David Hand states that the industry could face a growing skills gap.

“We spoke to many companies of all sizes that voiced concern over a widening skills gap, giving way to a pressing need to upskill and re-train the workforce. Miners must be able to meet the new digital demands of Australia’s mining future,” he said.

“Rio Tinto is a prime example of a company leading the field in this area, having recently partnered with the WA Government and TAFE Australia to provide vocational training in robotics for mining workers. The government should follow Rio Tinto’s lead to close this growing skills gap, which is occurring because of technology disruption.”

The report has run annually since 2010, serving as an independent performance checker for the Australian mining industry.

Share

Featured Articles

SolGold Director resigns after quarterly losses widen

Executive Director Jason Ward has resigned as a Director of SolGold with immediate effect after year-on-year quarterly losses nearly doubled to $9.2mn

BHP extends Spence by 50 years with copper concentrator site

The US$2,460mn copper concentrator plant in Chile has a throughput of 95,000tpd, producing copper concentrate and molybdenum concentrate

Copper Mountain Mining quashes Eva Copper sale speculation

Copper Mountain Mining says it has 'no pending transactions' with respect to the Eva Copper Project amid media speculation that it could be sold

Australian Goldfields to be rebranded Oz Lithium Corporation

Supply Chain & Operations

Horizonte Minerals awards Araguaia earthworks contract

Supply Chain & Operations

Sandvik to buy mining arm of Schenck Process Group

Supply Chain & Operations