Australia’s declining productivity is one of the most important challenges for our economy. With the evolution of new technology and mining methods, combined with projects of ever increasing scale, one might have reasonably expected productivity in the Australian mining sector to have increased over time. But for a range of reasons, at an industry wide level, the reverse has actually been the case.
PwC's research reveals 5 key findings which are further detailed in the full report:
The implications for improving productivity in the Australian and global open-cut mining sector are clear. Companies serious about both cost control and productivity need to have a greater focus on the efficiency of their equipment. This means stepping beyond short term cost reduction initiatives and a preoccupation with extra tonnes leaving the mines. What’s happening inside the gates is actually the key to arresting the industry’s productivity decline.
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