QLD Mining and Energy Bulletin
Issue link: http://ebook.aprs.com.au/i/50246
EDITOR'S LETTER I n some positive news as 2011 comes to an end, Australia's booming mining industry saw profi ts for the top-50 mid- tier miners rise from $38 million to a remarkable $2.4 billion. According to PwC's Aussie Mine – Onwards and Upwards report, the mid-tier 50's combined market capitalisation soared 39 per cent over the year to 30 June 2011 from $49 billion to $67 billion. PwC's Australian and global mining leader, Tim Goldsmith, said the 2011 fi nancial year has been a stellar period for the country's 50 largest mid-tier miners. "High levels of consolidation, extraordinary growth in both operating revenues and a staggering $4.4 billion (62 per cent) lift in capitalised exploration and development has not stopped many companies boosting their cash reserves. The sector largely overcame the volatility in equity markets," he said. "Rock-solid balance sheets will help them navigate some of the potential headwinds – ranging from labour shortages and the high dollar to the implementation of the mining tax and carbon price – in 2012." Looking ahead, Goldsmith said despite the mid-tier miners enjoying unprecedented opportunity, careful planning remained a top priority. "The mid-tiers will need to get their strategies in place in 2012, whether it be preparing for the MRRT and carbon price or developing their engagement with their local communities," he said. "They will also need to beware of any contagion that fl ows from the European debt situation. Fortunately, their strong cash positions will assist. "The sector's strong fundamentals are undeniable, which is why we remain fi rm in our belief that the industry is extraordinarily well placed to meet the challenges ahead." You can read the full report here: www.pwc.com.au/industry/energy-resources/ publications/aussie-mine.htm Inside this edition of the Queensland Mining and Energy Bulletin we speak with Rockwell Automation's Paul McRoberts, about how the successful development and deployment of automation technology is allowing surface and underground mining to be carried out more effi ciently. 2 QLD Mining and Energy Bulletin Summer 2011/12 We bring you the latest from a community forum where politicians and industry heavyweights debated concerns surrounding coal seam gas (CSG) extraction and hydraulic fracturing ('fracking'). CSIRO's Minerals Down Under Flagship, shares details on a research project, led by Dr Josef Uher, aimed at using Medipix, a tiny imaging detector, to characterise mineral ores through x-ray imaging. We look at the town of Blackwater and how it earned the title of being Queensland's coal capital. Nicholas Newman reports on the bright future ahead for Queensland's CSG industry, with investment and expansion on the rise. Vicky Kenrick explores the global challenges of water management for sustainable mining. As Australia's mining and resources sector prepares for a record boom which will demand a surge of skilled workers, Ron Kessels discusses what organisations can do with regards to planning and recruitment and how overseas workers can help solve labour shortages. Tony Wilson discusses Australia's Fly In Fly Out (FIFO) workers who are making up more than 50 per cent of the workforce at a number of mining sites. With FIFO becoming the new 'normal', he argues that it's time to consider what it means for organisational culture and what we need to do differently in order to minimise the impact and maximise the return. We also look at Australia's transport industry and the challenges it faces in achieving effi ciency and overall effectiveness within the supply chain. Inside you will also fi nd regular features on research and development and the latest mining events. We preview the Safety in the Resources Sector Conference to be held in Brisbane, and the inaugural Central Queensland Transport Trades and Mining Expo "CQ Expo" which will take place in Rockhampton, both in 2012. I would be very interested to hear your thoughts on the PwC report, so please drop me a line at: editor@aprs.com.au or follow me on Twitter: @KathrynEdwards. Kathryn Edwards Editor Queensland Mining and Energy Bulletin FOREWORD