Profligate Miners Need to Shape Up

A report released by PwC this morning suggests Australia’s miners are hugely unproductive. Despite the hyperbole from miners about pursuing a productivity agenda and an self centred view that Australian miners are some of the most efficient in the world, Australia does even worse than global peers. Globally, productivity of equipment on open cut mines has declined 20% over the last 7 years. The increase in equipment investment from 2003 to 2012 has been nearly eight times the growth in actual commodity production. Most of the issues are operational, according to PwC, and the recent austerity measures across the industry fail...

A report released by PwC this morning suggests Australia’s miners are hugely unproductive.

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