Freeport's Chief Executive Richard Adkerson told Reuters (and reported on Mineweb) that the shortage of skilled workers, including geologists, is going to be an issue as the global copper industry ramps up to meet growing demand. The Chile earthquake has further complicated the situation. At Antofagasta Minerals, half of the workers who went on leave to repair homes from quake damage never returned to work. [photo credit Asarco]
Copper hit a 20-month high on Tuesday passing $8,000 per tonne, still below its record $8940 price in 2008, but on a trend towards that again. Analysts are projecting a balanced market in 2010 but a serious production shortage in 2011.
A true display of ignorance of the reality of the mining industry. Is Adkerson really that blind to what they have done to thier own industry? FMI/PD has made stink in their own bed for years, perhaps they enjoy the all over warm feeling it gives them. Good planning FMI, way to go, what forward thinking. Do other first world countries miners behave this way? FMI says this but their actions - such as last Jan 09 layoff's - do not support their words. Actions speak volumes larger than words.
ReplyDeleteThe Reuters story also says:
ReplyDelete"Freeport-McMoRan Copper & Gold cut its U.S. work force by 30 percent, but retained most of its skilled work force in an effort to maintain its ability to execute projects, but still fears a pinch that may affect timelines."
yeah, this isn't isolated to the mining industry, the O&G industry has the same attitude. The days of thinking long term with your staffing needs and development are over....they deserve whatever they get. We should all become consultants and collude to rig our day rates!
ReplyDelete