33 miners

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Ivor Jones

A tribute to the bravery and courage of the 33 miners and their rescuers as they are about to return to the surface.

The first report was published in 2010. Each year, our report canvass the views of mining leaders across the country on their growth outlook and prospects, employment and pricing, challenges, opportunities and business priorities, and their advice to Canberra. Over the last seven years, the Mining Business Outlook Report has reported on the highs and lows of the industry first-hand. From broadcasting sentiment when mining was at its peak, to documenting the collapse in confidence as the sustained fall in commodity prices killed the mining investment boom, this report has provided expert insights into an industry facing turbulent times. In 2016, the Federal Government continues to lead the discussion of an economy in transition away from mining and resources. However, as this report shows, in an industry sector that accounts for more than 50 per cent of the value of all Australian exports, our interviews with mining leaders clearly suggest a shift in industry sentiment and potentially, a sustained improvement in the outlook for the sector. Despite the lows that still exist in parts of the industry, there has been a huge surge in sentiment. The outlook for mining appears more positive than it has been in the last three years, with a rise in cautious optimism from below 10 per cent two years ago, to nearly 50 per cent today. The underlying reasons for this are that many leaders have made the difficult changes necessary for their businesses to survive in today’s climate of low commodity prices. There is a growing sense that prices have stabilised and the next price trend, though it may not occur soon, will be up. In addition to our 50 interviews with mining leaders across key commodities, this year we were also fortunate enough to conduct an exclusive interview with Gina Rinehart, one of Australia’s mining magnates, well-documented for her achievements with Roy Hill, Australia’s largest iron ore mine. Mrs Rinehart remains cautiously optimistic about iron ore, but also warns that in order to retain global competitiveness for Australia’s mining sector, the Australian Government and industry leaders must take urgent action. In summary, there appear to be signs of resurgence in the sector over the next 12 months, with a more confident outlook for the future. However, the sector is also calling out for clearer polices and Government backing in order to support its ongoing contribution to Australia’s economic prosperity, as we once again get ready for an election.

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33 miners

1. MINEROS 33 (33 MINERS)

33 miners

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