Nov 7, 2018
Mining and energy are set for another boom
The Mining, Resources and Energy sector is experiencing a renaissance. Between 2012 and 2016 the mining industry was in a downturn but this is showing signs of turning around. The sector experienced a 34% increase in job ads earlier this year compared to the same period last year.
The economy is showing signs of growth
Commodity prices have increased over the past year which has resulted in a surge in profits. This has also driven an increase in wages in the industry. Research has found that salaries in some key areas, like Port Hedland, Karratha and Pilbara, have also increased. Mining employs approximately 226,500 people or about 1.8% of the Australian workforce and still has a significant influence on the economy.
At the same time, the iron ore, oil and gas sectors have seen the value of exploration activity almost double this year. This activity is focused on Western Australia, New South Wales and Queensland. It’s estimated that projects valuing approximately $21 billion are on the cards, and with that level of investment comes new opportunities.
In the Northern Territory, the Chief Minister Michael Gunner has also announced a Five Point Gas Strategy that will grow the gas supply, service and manufacturing industry in the territory. He also plans to focus on growing research, innovation and training in the region. These initiatives are expected to create several hundred jobs.
New job opportunities exist across Australia
Job opportunities in the sector are being driven both by historical issues and new changes in the industry. The mining downturn saw less student engineers entering the industry in the past few years. This has resulted in a shortage of qualified engineers in the industry now.
Renewed confidence in mining is also driving a shift in the type of roles that are available. Previously the majority of opportunities were in capital projects. While capital expenditure is still on the increase operational expenditure is also driving growth in the industry. This is increasing demand for maintenance and repair roles that keep the sophisticated and heavy machinery that is integral to mining operating. While 39.2% of roles in the sector are temporary or contract positions, research indicates that the growth will be in permanent positions. As the mining and energy sectors expand and new projects commence, project engineers and mechanical fitters are also expected to be in high demand.
In the oil and gas sub-sector, new jobs have more than doubled in the past decade. This growth has a ripple effect with each role in oil and gas sustains 10 other jobs in the wider economy.
The majority of roles in the sector are located in Western Australia and Queensland, but opportunities in mining and resources also exist in Victoria, South Australia, the Northern Territory and the ACT.
If you would like to know more about the opportunities in the mining, resources and energy sector get in touch.