Modest growth expected in Australian mining industry
Against a backdrop of global economic uncertainty, a slowdown in global growth, and a drop in commodity prices affecting resources project pipelines and development, Australia’s resources sector has been resilient, according to “Resources Sector Skills Needs 2013," published by the Australian Workforce and Productivity Agency.
Overall employment in the mining sector is expected to grow by 7.4 percent between 2013 and 2018, as compared to a 103 percent growth rate from 2006 to 2012. The demand for mining engineers from 2013 to 2018 is expected to grow by 17.5 percent and geologists by 14.5 percent, while the supply for these positions is only expected to grow by 8 percent. Interestingly, the number of four-year visas for mining engineers and geologists has dropped 33 and 50 percent, respectively, since 2012.
Contrasting the slowdown in the need for foreign workers, Australian graduates are being placed in mining careers within four months of graduation at a rate of 94 percent for mining engineers and 84 percent for geologists. As the demand for skilled workers in mining has eased a bit, employers are recruiting more suitable candidates in-country without difficulty.