Miners need to dig themselves out of a cost sinkhole

A Boston Consulting Group report on mining productivity has found that Australia's mines are among the most inefficient and costly in the world, with serious cost-cutting needed to match global competitors.

Why has the US sharemarket performed so much better than Australia in recent times? Obviously there are a number of reasons, but there is one overriding force: American managers worked out that future depressed economic growth was not going to provide their shareholders with a good living. They would need to be a lot more efficient.

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