Glen48
Money can't buy Poverty
- Joined
- 4 September 2008
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They have plunged more than 33 per cent in the past three months.
Now we can see Gina's problem and the needs for cheap labour as things get bad she will have her way
Chief executive Greg Robinson warned that cost pressures and declining grades in Australia would push miners towards emerging regions including Uzbekistan, Russia, Latin America and West Africa.
Australia was now among the 25-50 per cent most expensive destinations for gold miners, Mr Robinson told the annual Stockbrokers Conference in Melbourne.
"Labour costs are very, very high, the currency is high.
"Energy costs and taxation issues are making Australia's gold industry a third and fourth quartile industry," Mr Robinson said.
"It is very difficult within this cost cycle to allocate major expansionary capital.
"The number of projects that will be delayed will increase."
That would be a good thing for Newcrest as Mr Robinson says the cost cycle peaked last year, which will take pressure off the industry and lower costs.
The company was aiming for five to 10 per cent increases in production from a current 2.3 million ounces over the next five years, he said.
Newcrest operates mines in four countries, is focused on two major growth projects, the Cadia East underground mine in central western NSW - which will be Australia's largest underground miner - and Lihir Million Ounce Plant Upgrade project in Papua New Guinea (PNG).
It also aimed to have what it called a spectacular discovery at the Wafi-Golpu gold/copper project in PNG in production by the end of the decade.
Mr Robinson said he was still positive about the gold price and margins as central banks, particularly in emerging economies such as China and India were moving away from currencies and investing in gold as an asset class and wealth holding.
Shares in Newcrest, which has a market capitalisation of more than $19 billion putting it among the top 20 ASX companies, were down 81 cents, or 3.3 per cent, at $24.13 on Friday.
A CHALLENGE was thrown down to mining magnates yesterday by independent MP Rob Oakeshott: Send a plane to his NSW electorate and he will fill it with workers.
"I'd have 100 to 150 people ready straight away," he said yesterday.
Mr Oakeshott and fellow NSW independent Tony Windsor said the mining industry had not done enough to actively recruit workers on the east coast, especially from regional areas with high unemployment.
Enterprise migration agreements recently approved by the federal government will allow big mining projects to bring in foreign workers to make up for labour shortfalls.
"It annoys me that it has entered mythology that the east won't go over to the west to work," he said.
He said his region had run four jobs expos in the past few years.
"I haven't seen the WA mining industry at any of them," he said.
Mr Windsor said miners had to improve their recruitment efforts.
And have those 100 to 150 people made application to any of the remote mining companies for employment?A CHALLENGE was thrown down to mining magnates yesterday by independent MP Rob Oakeshott: Send a plane to his NSW electorate and he will fill it with workers.
"I'd have 100 to 150 people ready straight away," he said yesterday.
Mr Oakeshott and fellow NSW independent Tony Windsor said the mining industry had not done enough to actively recruit workers on the east coast, especially from regional areas with high unemployment.
More proof that the 457 scam is to line billionaires pockets over any other reason -
http://www.heraldsun.com.au/business/worklife/challenge-from-rob-oakeshott-to-mine-potential-for-workers/story-fn7j1dox-1226375808903
(My Bolds)More seriously, consider the forces unleashed when the Prime Minister - herself the product of foreign workers, as are most of us - failed to defend her own policy and her own ministers on the issue of foreign workers while giving succour to the xenophobic tea partyites represented by the trade union movement.
Bob Katter, limbering up for the federal election, complained loudly that the workers probably won't even be able to speak English. Presumably like his Lebanese ancestors.
With immaculate Scottish brogue, Doug Cameron warned about Chinese workers. Talk about taking the low road instead of the high road. It's a refrain as old as the 1850s gold rushes, and just as base.
This is an opportunity for Abbott to take on Hanson's successors, to set a more tolerant tone in the national debate and support all workers, English-speaking or not, prepared to contribute to Australian prosperity.
This debate has exposed the Hanson-type hypocritical nastiness in Gillard, Katter and Cameron.
(My Bolds)
http://www.theaustralian.com.au/new...le-hansons-heirs/story-fnahw9xv-1226383893882
Why do mining supporters always try to side-track from the real issues, and point to stupid meaningless and irrelevant things? Do you have no legitimate arguments?
As you are well aware, exposing the hypocrisy of those who share your beliefs on importing temporary workers is the best way of exposing blowhards.
But where is the hypocrisy? What difference does it make where their ancestors came from of what else happened in the distant past? What relevance does it have to foreign workers stealing locals' jobs in this day and age?
Grow up Max, or go back to your play station. They are not stealing locals' jobs. They will be doing work that locals can't or don't want to do in remote areas.
Grow up Max, or go back to your play station. They are not stealing locals' jobs. They will be doing work that locals can't or don't want to do in remote areas.
Precisely what I mean - all you mining supporters can do is insult others with your irrelevance to mask your pathetic excuse for an "argument". Why don't you go back to your bed with Gina.
Show me the evidence that locals can't or don't want to do the work - last time I checked the construction industry is shedding countless thousands of jobs.
Yada yada yada.
it's not just the fact that they are taking potential jobs off Australians, it's also that you can almost guarantee there will be loop holes(or they will just blatantly do it) allowing these magnates to pay these workers fresh off the boat lower rates. Anyone who believes otherwise are kidding themselves.
The construction industry is rife with sham contracting. It's not that the contractors aren't making enough money, its that they want more. Bringing laborers tilers and so on in on $14-$20 an hour in some cases is simply not allowed, and yet every week the same mobs are trading under new business names to filter this cheap labour through the system. Not only does it entice other builders to try the same, and squeeze properly paid Australians out of there jobs, it also introduces a safety issue on sites. The safety standards and expectations here in Australia are far higher than alot of other nations, and failure to adhere costs lives. In my experience alot of these workers under 'sham contracts' barely speak english, so I fail to see how they are able to understand the comprehensive list of safety expectations dealt out by the bucket load on a daily basis.
Again I can't say that this is definitely going to be the case with the miners, but I would assume it is going down the same track.
Also anyone saying that Aussies arent looking for jobs. I've got 3 mates currently living in north queensland and have done so for the past 12 months. they have all completed generic mining courses, worked with mining sub-contractors to get experience in drag lines etc, and only one of them has managed to pick up a roster so far. It is not as simple as picking up the phone and walking in. You really need to know someone, or it's a long hard road. Mines arent as interested as putting time, money and effort into training up new recruits as some may think.
IMO this is just another quick fix, maybe they need a few laborers and a couple of fitters n turners or something. bottom line is there are guys and girls here that want to do it, they are just taking the easy/cheap road, so they can buy another 30k couch for the entrance to their home.
I havent read the entire thread, but can someone tell me exactly what qualifications they are apparently trying to bring in?
Well check out this link from January, then do a bit of research.
https://www.aussiestockforums.com/forums/showthread.php?t=20515&page=115&p=682346#post682346
im failing to see what you are getting at? linking me to a site that says people are pursuing high paying mining jobs as opposed to doing what seem to be deemed as the 'lesser' jobs in society isnt really applicable to what i said nor the thread. if you are tying to say that there are alot of australians that are lazy then yes I agree.
I don't really need to research when I am in the construction industry and see it first hand, I just asked a question that someone may already know to save me lookig it up. By hearing from word of mouth from friends who are in the mining industry, I will get a far better understanding of what is occurring in the real world than from the tele, thanks.
Oh and I have no problem with them bringing in workers, or giving jobs to people in any industry, provided they are paid correctly, and there aren't aussie workers that are being overlooked first.
What I was refering to was, Warwick McKibbin made reference to the problems associated with bringing in overseas labor. The problems with this are well documented.
Obviously it isn't a problem with you, but maybe you can explain how you monitor if aussie workers are being overlooked or even bypassed. What checks are in place?
Especially if it helps the government if it caps wage rises?
As for friends in the mining industry, what has that got to do with anything, I have two family members in the mining industry, so what?
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