GREY:NMKEF - Post by User
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Tcheckon Jan 17, 2020 3:42am
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Post# 30563829
cost drivers cost a lot
cost drivers cost a lotCost drivers
Labour costs29Labour continues to be a significant component of input costs for the mining sector.
For the world’s top 40 mining companies, labour costs, including external services, accounted for an estimated 32% of operating costs in 2017.
30Labour costs reflect productivity, overall labour market conditions and mine-specific factors such as location and whether a mine is fly-in, fly-out. Workers on fly-in, fly-out schedules are typically paid more, and companies operating this way may experience higher turnover.
Wages tend to be higher during boom cycles when there is more competition for workers.
Overall employee numbers are understood to have been declining in recent years, especially through higher productivity, and the impact that innovation and technology investment has on employment levels and traditional workforce structures will require careful management in the future.3