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Miners everywhere are feeling the pinch from falling prices, but operators in Australia face the...

  • Friday, June 8, 2012, 9:58 AM ET
    Miners everywhere are feeling the pinch from falling prices, but operators in Australia face the extra challenge of soaring labor costs plus carbon and mining taxes that soon take effect. "There's been such demand for gear over the last few years and mining guys get paid $140,000 to drive a dump truck. It's a joke... It's all going to come home to roost now." Y/Y: RIO -35%, BHP -32%.
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This news story has 6 comments:

  •  
    The Australia mining bloom is just a transient product of the China Syndrome.
    8 Jun 2012, 10:03 AM Reply Like
  •  
    Those -35% quotes damn near gave me a heart attack.
    8 Jun 2012, 10:10 AM Reply Like
  •  
    I saw a video on FT that showed how RIO was using driver-less/remote-ope... trucks in the mines and they are planning the same thing for the trains.

    That's no joke.

    On the other hand, the PPS is a dirty trick.
    8 Jun 2012, 10:31 AM Reply Like
  •  
    "...mining guys get paid $140,000 to drive a dump truck. It's a joke..." Nobody held a gun to the operators heads. If the truth were known, the operators probably were offering that much to attract drivers. For all of you people that bitch about this, I think it's called supply and demand. One of the tenants of capitalism.
    8 Jun 2012, 10:37 AM Reply Like
  •  
    Gotta take a look at the size of those dump trucks and how hard they are to actually operate i think....
    8 Jun 2012, 11:26 AM Reply Like
  •  
    yes .. thats what they said about US growth in the 50's (transient?) growth rates slowing but from an ever larger base .. resources depleting ...
    8 Jun 2012, 10:39 AM Reply Like
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