Sounds like the annual Diggers and Dealers mining pow wow is a little more downbeat this year. From the AFR comes this quote from Neville Power, CEO of Fortescue:
“We have not seen anything like the tight labour supply that was forecast,” he told media following a presentation at the Diggers & Dealers conference in Kalgoorlie.
Contractors for BHP Billiton have recently begun sacking employees as the prospect of that miner proceeding with a $US20 billion outer harbour appears more doubtful, and Rio Tinto has also been looking to keep a tight rein on costs. Smaller miners are finding it more difficult to obtain financing for iron ore projects, particularly when large amounts of new infrastructure is required.
If any readers are attending I’d like to hear more.
