July 19, 2018 / News
Australia’s mines are abundant and full of resources. Australia's land contains a large supply of hydrocarbon, mineral and non-mineral reserves, which are very high in quality and in demand from various international countries. According to research analysis conducted by IBISWorld, the mining industry has brought in revenue of $225bn, accounting for 70% of total revenue for 2017-18. Currently, investors are seeking to pump more money intomining due to the growing success of the exportation of various materials including coal, bauxite, iron ore, zinc, alumina, lead, uranium, nickel, copper and liquid natural gas.
Given these statistics and facts surrounding the mining industry, here’s a few reasons why you should be looking for work within this sector.
1. Increasing International Demand for Australian Materials
Australia's highly sought natural resources are what international investors are keeping a close eye on at the moment, primarily due to the exchange rate of the Australian Dollar and the need for these materials in various countries. Quite often, overseas buyers find that the price of Australian commodities are cheaper, due to the exchange rate and the fluctuating strength of the Australian dollar. This encourages international investors and businesses to consider Australia as the starting point for purchasing natural resources. Consequently, this surge of investment and the hot demand for these materials promote growth within Australia'smining industry and generate more employment opportunities. The top countries currently investing in Australian mining resources are China at 42.7%, Japan following at 34.5%, South Korea at 7.8% and India at 5% (Bankwest Focus on Mining Services 2018).
It is important to note that the mining industry does tend to fluctuate, however the mining industry is currently exhibiting strength with upward trends in areas such as exploration and financing. So, now is a good time to search for work in mining.
2. Increased Investment & Funding to the Mining Industry
As mentioned previously, many overseas buyers are seeking to invest in Australian natural resources primarily due to the favourable exchange rates. This has enabled the mining industry to soar, and increase revenue derived from resource exportation. Considering the steady growth of the global economy, it is expected that the labour hire industry will increase too. According to a BIS Oxford Economic study, it’s predicted that the mining sector will grow to double-digits through 2018-19. In addition to the predicted growth of 5.8% in the next year, the mining industry is estimated to roughly double the pace of the national economy within the next five years in regards to economic growth. Essentially, the mining industry will continue to grow in the near future. This means thatemployment opportunities within the mining sector are projected to also become more available.
3. Skills Shortage
Despite the fact that employment opportunities are becoming more available within the mining industry, there has been less people actually entering the sector. From a previous estimate of 300 graduates entering mining, the current rate has been estimated at just 50 graduates over the next four years. There’s a few reasons for this downfall, including negative perceptions about the industry and the dropping price of certain materials. ABC reported that currently only six students are enrolled to studymining engineering at UNSW, a drastic change from 120 enrolments four years ago. The skills available and needed for the mining industry are vast, including geologists, mining engineers, mine deputies, electricians, metal machinists, production engineers and motor mechanics. This influx of skills needed allows for greater employment opportunities, with roles only becoming more in demand as the mining industry continues to experience economic growth. Research for yourself what mining roles are available in areas near you, you’d be surprised at how many employers are advertising.
4. High Wages
A job that highlights the skills you have and pays generously? What more could you ask for! Skills and roles within this industry vary in terms of the pay, but it’s an economically smart decision to put yourself in this sector. According to PayScale, wages in the mining industry range from $20-$60ph. This is primarily due to the increasingly high demand of workers, not only in the mining industry, but in labour hire overall. These wages are based on your skill level, the shifts you work, what days you work and what job you’re doing. Generous pay for the hard work you do, it’s almost perfect!
If you're interested in kickstarting your career in mining, contact us at Workfast Labour Hire on 1300 824 403 or sign up online! Let us, at Workfast Labour Hire, help you find mining jobs that are best-suited to your skills, qualifications and experiences.