Once again the traditional media are making a big song and dance about job losses in mining and how that will filter down into the general labour market and economy.
Yes, things have slowed down and resource prices are largely dropping. And, yes, the ‘boom’ is probably ending. However, the media seems to have failed to note that the boom also created a massive skills shortage that required the importation of labour from other countries. Given time, those that have lost their jobs at places like Ravensthorpe will pick up work again because the imported labour will return home, rebalancing the equation. Of course that is not great for our international brethren but that’s world economies for you. Save money in the good times so you can survive the bad and you’ll fare okay.
So, can the traditional media please stop “carrying on” – you’re only making us switch off faster than we already were.
Filed under: Uncategorized | Tagged: BHP, crisis, economy, labourmarket
A good article – Ravensthorpe unfortunately was probably a mistake all the way along and many questioned it at the time of re-opening. The use of Stainless Steel in times like this and therefore a reduction in the use of Nickel means that the high price of mining makes it less than viable. Most Mines in this country are of solid Primary Commodity base and the need to maintain them will quickly return. Population demands globally will enforce their use. Many Projects “shelved” are already being announced as back on. I really believe that the way Mines employ in the future may change and labour-hire companies may find that the Big Miners will take this responsibility back in house. Continued on-cost will be reviewed at times like this and adjustments made. The issues are large and complex and should not be written in a fear mongering way.