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.
Eight percent of miners were under a salary freeze in 2014 compared to just 4% across industries Canada-wide, reports Hays in its 2015 Salary Guide for Canada.
“The mining industry slowdown and reduced financing has decreased or restricted hiring plans,” write the study’s authors. “Seventy-two per cent of respondents say permanent staffing numbers remained stable or decreased in 2014.”
Miners—always optimistic—see better days ahead.
“Just one per cent expect the freeze to continue and 79 per cent believe they’ll see salary increases of up to six per cent in 2015,” writes the reports authors.
Salary level increases from 2015 Hays Compensation, Benefits, Recruitment and Retention Guide.
Some skilled trades are still needed. Workers with their Red Seal journeyman certificate were singled out as being particularly in high demand.
You can read the study here. The section on mining starts on page 152.
