|12/6/2015 by mdc|
|Robert Spence says that the worst of the mining downturn in Australia is not over. According to the BIS Shrapnel Mining in Australia 2015 to 2030 report, the sector is likely to see upwards of 20,000 jobs fade away by the end of 2018 as mining investments are predicted to fall by 58 percent over the next three years.|
Spence suggests that we have not hit bottom yet on commodity prices or investment, which will continue to be a key drag on Australian economic growth from here, Adrian Hart, senior manager at BIS Shrapnel, said in a statement. While mining production will rise strongly, led by new liquefied natural gas (LNG) exports, this growth will be far less employment intensive than the investment phase, albeit offering contractor opportunities for maintenance and facilities management.