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Australia’s mining boom is not over, new research has argued.
The BIS Shrapnel Mining in Australia 2013-28 report suggested that despite predicted falls in investment, the industry will continue to be the country’s main economic influence for the next five years.
Mining production is expected to surge 41 per cent over this period, which will have a knock-on effect for maintenance, operations activity and exports.
Adrian Hart, senior manager of BIS Shrapnel’s infrastructure and mining unit, said LNG and iron ore would be the primary contributors to mining production.
“With respect to the mining boom, it’s probably fair to say that this is not the beginning of the end, but the end of the beginning,” he stated.
“Over the next five years, the strong boost from mining production … will more than offset the economic negatives from falling mining investment, which will flow through to construction and manufacturing.”
Maintenance activities are expected to rise significantly during this time, having slumped 15 per cent in 2012-13.
This additional spend – the equivalent of a 50 per cent jump – is due to companies looking to boost productivity and efficiency.
Organisations and employees may wish to consider mining training to cope with changes forecast over the next five years, with BIS Shrapnel claiming employment levels may not keep pace with production expansion.
“Miners will continue to be squeezed by lower commodity prices and a high Australian dollar over the next few years,” Mr Hart said.
Oil and gas courses in particular may be popular, with the senior manager highlighting the sector as providing a high proportion of the 11 per cent rise in mining jobs by 2018.
BIS Shrapnel predicts there will be a 60 per cent labour productivity surge in the next five years, given the expected performance improvements in mining production.
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