An Uncertain Mining Future
August 28, 2015
These are tough times for many miners in Australia.
The news was sobering at a recent mining conference. Weak commodity prices have resulted in lower company prices. There have been massive job cuts over the past 12 months.
A recent report from a consulting company showed almost 80 percent of mining leaders are reducing capital. Thousands could be impacted by another round of job cuts.
Some company are trying to stay positive and ride out the rough storm. They will hang their hats on better productivity and efficiency.
Many iron ore minors in Australia have had to make big job cuts and changes to cope with the weak prices.
Perhaps there is some room for optimism. A new report shows the value of Western Australia’s top one hundred companies has increased greatly over the past ten years. This report also shows the biggest mining companies in Western Australia have grown greatly over the last 15 years. Those companies are now reportedly worth in the area of $132 million.
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