Miners feel pressures of boom and bust

Posted November 26, 2014

Mining industry professionals are working harder for their money but earning less according to research by the Australasian Institute of Mining and Metallurgy (AusIMM).

The report found workers have experienced salary cuts of almost 20 per cent in the past two years despite facing greater pressure due to the downturn in the minerals sector.

Minerals professionals are also putting in an extra four hours a week on average.

“Minerals professionals have experienced a roller-coaster with strong job opportunities and salaries growth during the minerals boom, and a sudden and significant downward adjustment in the last two years,” AusIMM CEO Michael Catchpole said.

“Our research paints clear warning signals that minerals professionals are being burned by the boom to bust cycle of the minerals sector,” he said.

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