Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
A Canadian non-profit organization led by former oil sands workers is hoping to get laid off colleagues back on the market by retraining them in alternate energy sources.
The Edmonton-based group, known as “Iron and Earth,” hopes the province and corporate sponsors would support the initiative, whose first goal is to convert 1,000 out of work electricians into solar panel installers by 2018.
More than 100,000 people have lost their jobs in the Canadian oil patch over the course of the downturn.
More than 100,000 people have lost their jobs in the Canadian oil patch over the course of the downturn, which has pushed the province of Alberta into a deep recession.
Only last week, Suncor Energy (TSX, NYSE:SU) — which is Canada’s largest oil company — announced more job cuts even as crude prices have climbed above US$40 a barrel for the first time in 3 and a half months, The Globe and Mail reported.
The company’s previous layoffs contributed to more than 41,000 direct job losses in the oil industry as crude prices dropped from over $100 a barrel in mid-2014 to just above $26 in February.
On Monday, U.S. benchmark crude was up 0.8% at $41.43 a barrel on the New York Mercantile Exchange, while the global Brent contract was last up 0.8% at $41.52 a barrel on the ICE Futures Europe exchange.
“Iron and Earth” will reveal more details of its plan at a news conference in Edmonton later Monday.
5 Comments
Bobbie
Are they actually Alberta Based ? Just wondering as the main address is Victoria BC, as is the phone number of the founder (250) 893-4674. I looked at the website and it doesn’t mention Alberta in many places with exception to a couple of different gatherings. Only one person on the team is currently from Alberta but was formally from BC? No offense to them as anything that can help an Albertan find a job is great but is this based in Alberta or a BC company working in Alberta? I am just curious
MINING.com Editors
Hi Bobbie,
That is the official information (being Alberta-based), though you have a very good point regarding the phone number and address. The group also lists this address in the “Contact Us” section: 74 Otter Crescent, St Albert, AB T8N 7H6
Alberta Equipment
This is a residential address.
patentbs
They are not really looking for electricians. They are looking for government handouts. What the hell – if it is good for Bombardier why not I&E?
If they had a real business electricians would be looking for them!
Devin Tepleski
Hi @patentbs:disqus,
I’m the web guy for I&E and know a lot about their objectives. I’ve responded to another user below if you want more details, but simply put it isn’t about government hand-outs. We’re also partnering with industry and have had some support from major oil / gas and renewable energy companies. The government has already committed grant money to solar on municipal infrastructure. I&E is looking at those installation projects and hopefully some others on provincial buildings like high schools as opportunities for localized training programs. The idea is to minimize costs, and hopefully provide curriculum materials to high school students to get them interested in the trades in the process. The figures included in our press release include the materials for installation, installations which would pay themselves off in about 15-18 years.
Let us know if you have any questions ([email protected]) :).