Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
The companies announced the verified discovery of one of the largest palladium mineral systems in Australia.
Australia’s mining sector productivity ranks second-worst in the world, with only Africa’s ranking lower, according to a report cited by The Wall Street Journal.
Falling consistently from a peak rating of about 104 points in 2007, Australian mine productivity hit 88 points in 2013, said the PricewaterhouseCoopers report titled “Mining for Efficiency,” according to the newspaper.
Only African mine productivity, with 76 points, rated worse.
By contrast, productivity across North American mines scored 107 points in 2013, the paper said. Asian mines rated 106 points and South American ones came in at 103 points.
Despite efforts to raise output, mining sector equipment productivity worldwide fell 20% during the last seven years, according to PricewaterhouseCoopers.
Meanwhile, The Australian reports that more than 16,000 exploration, metal ore and coal mining jobs in Australia are expected to disappear in the five years to 2018.
Australia’s mining industry, once the country’s second-largest job generator, appears to have become just another employer.
According to the Bureau of Statistics, the sector added 4,200 jobs in the year to May, far less than the 61,000 it created in the same period ending in May 2012.
3 Comments
the industry insider
And the Australians think they are the greatest miners in the world and continually export their operational expertise to the operations under their control……………….hahaha!
Jan D Harman
Once the optimality criteria is defined as improving the net revenue, the Australian managers and engineers know that the responsiveness is a key tactic. And that the final computation could involve taking a hit on the productivity – given the extremely constrictive labour laws and dearth of skilled labour. I don’t think it was ever a secret that productivity in Aus mining sector is something that needs some work done given the way Aus mining sector managed to boost the “production” in a way that was never done anywhere else in the world.
Chris Rood
Some truth, however I believe it boils down to the appointments of friends of friends and colleagues who are not qualified and jump from one mine to another, whoever they can push into giving the best roster and hours. I have a son working on the Gorgon project who says he has never seen so much wastage of materials and people arriving for jobs -TOTALLY UNQUALIFIED- all they want to see is how(with the union) to squeeze the Companies for more money, hours and perks