Mining Industry Update Q2 2015
The mining sector has faced a turbulent time with mineral prices plunging in recent years, combined with mass layoffs.
With Gold and Silver prices falling in 2013, iron ore, coal and copper followed suit. With some minerals (such as copper) trading close to its support level investment has slowed and companies have struggles to deal with the financial burden this has caused.
However, 2015 may bring a glimmer of hope. Despite the beginning of 2015 expected to see a decline in overall mining revenues, the 2015-2016 financial year is expected to see an upward trend and positive growth.
A key mining industry, Australia’s mining boom was a key contributor the countries economic growth. Like the rest of the globe, they too have struggled with declining prices and lack on investment.
With a decline in investment from foreign investors, the Australian mining industry has felt a significant impact to its profits, resulting in staff layoffs and a declining staff hiring outlook during the past two quarters.
However employers have signalled positive intentions for the period April-June, predicting a +6% hiring outlook in both the Mining and Construction sector and is likely to remain stable over the remaining year, unchanged year-over-year.
The main mining hub remains to be the western coast of Australia. A total of 321 mining jobs advertised at the time of publication in Perth, WA, with the most popular positions being engineers, operations, drilling and exploration professionals. There were also 13 foreman jobs advertised in Australia.
Average salaries in the mining industry for 2015 begin at a very attractive initial base salary. Introductory underground mining jobs begin at $80,000 AUD and can fetch up to $200,000 while above ground mining starts at around $100,000 AUD.
Drilling jobs, responsible for the operations of drilling rigs and other equipment begin at $80,000 AUD and mine machine operators start on a base salary of $85,000.
If you have the required skills, mining can be a lucrative choice for your next career option.
There is predicted to be a strong growth in the mining sector in the MENA region for the remainder of the 2015 largely due to governmental plans to find alternative means of funding government actions, diversifying away from solely oil.
Turkey and Northern Iraq remain key growth areas however political instability continues to plague these countries and the mining sector in general. It remains an underutilised resource of materials until its political turmoil can be negotiated.
The key growth area in the mining sector will be Gold. Despite lower than average prices forecasted in Q2 and beyond, the price will increase on previous quarter numbers and will be elevated compared to historical standards.
Capacity additions in phosphates will come from nations such as Morocco and Saudi Arabia, which will reach a steady-state production of 3mnt DAP by the end of 2015.
There were 3 mining jobs advertised inn Saudi Arabia at the time of publication, all receiving a base salary package over 100,000 SAR per annum.
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