Australia iron ore output dips as COVID restrictions crimp labor

Yeah, that place out 'there'. Anything not really Cambodia related should go here.
User avatar
yong
Expatriate
Posts: 4267
Joined: Thu Mar 08, 2018 12:03 pm
Reputation: 2769
Thailand

Australia iron ore output dips as COVID restrictions crimp labor

Post by yong »

https://asia.nikkei.com/Business/Market ... 4&si=44594

Australia iron ore output dips as COVID restrictions crimp labor
BHP and Rio Tinto struggle with lack of workers in mines and transport

Image
An iron ore mine in Western Australia: Coronavirus restrictions kept miners from traveling into the state to work at BHP Group and Rio Tinto sites. (Photo by Jennifer Walpole)
FUMI MATSUMOTO, Nikkei staff writerOctober 20, 2021 03:49 JST

SYDNEY -- Anglo-Australian mining giants BHP Group and Rio Tinto cut iron ore production in the third quarter, hit by a worker shortage resulting from coronavirus travel restrictions.

Western Australia, home to the iron ore mines for both industry behemoths, experienced a personnel squeeze as the travel restrictions kept mining workers from entering. Many of these employees fly in to the work sites from outside the state for a period of time.

BHP's iron ore output in Australia declined 5% to 70.6 million tons for the July-September term, the company reported Tuesday, citing "planned major maintenance activities" as a factor.

The miner also noted "temporary" labor shortages for rail carrying iron ore to ports due to restrictions on travel across state borders. Iron ore production guidance for the full year through June 2022 remained between 278 million tons and 288 million tons.

Rio Tinto's Australian iron ore output fell 4% on the year to 83.3 million tons for the quarter.

The July-September period "has been another difficult quarter operationally, and despite improving versus the prior quarter, we recognize the opportunity to raise our performance," CEO Jakob Stausholm said.

Rio Tinto downgraded its forecast for Australian iron ore shipments to between 320 million tons and 325 million tons for 2021, from earlier guidance of 325 million tons to 340 million tons as of July, due to "modest delays" in mine development stemming from "the tight labor market in Western Australia."
Read Next
User avatar
SternAAlbifrons
Expatriate
Posts: 5752
Joined: Sat Mar 23, 2019 11:31 am
Reputation: 3424
Location: Gilligan's Island
Pitcairn Island

Re: Australia iron ore output dips as COVID restrictions crimp labor

Post by SternAAlbifrons »

"modest delays" "a tight labour market"
A slight quarterly production dip and a winge about not having a big pool of unemployed workers in Australia these days to keep driving wages growth even lower.
lol. What's new from the biggest and most profitable mining companies on the planet? (BHP and RIO. Fortesque on the way)

"We must be allowed to import more and more cheap "skilled" Chinese labour (and others) on temporary visas in ever increasing numbers on even more spurious grounds - like we were before Covid"

Don't fret - the big picture is that Au's iron ore exports are rising every year. Including thru Covid. Including for 2021.
Cost of production is still falling. (!!)

In fact the whole economy, not just the employment figures and the miners extraordinary profits, is doing far better than most OECD countries because of their super effective Covid strategies.

go look at the stats
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: Bing [Bot], Cooldude, Freightdog, John Bingham and 827 guests