if i wanted to ride the mining boom.. (1 Viewer)

[BackCountrySnow]

What could I major in?
The obvious is engineering (mining) at unsw, but I don't want to confine myself just to that. Would mines still employ mechanical, civil and chemical engineers etc?

If so, would the salaries be substantially lower that mining graduates?

 

[tau281290]

What could I major in?
The obvious is engineering (mining) at unsw, but I don't want to confine myself just to that. Would mines still employ mechanical, civil and chemical engineers etc?

If so, would the salaries be substantially lower that mining graduates?

This is the biggest joke ever, the mining boom is just about to end and you are just about to graduate. May be you could if you graduated 5 yrs ago =)

 

[BackCountrySnow]

This is the biggest joke ever, the mining boom is just about to end and you are just about to graduate. May be you could if you graduated 5 yrs ago =)

um no, it is not about to end. The global economy is slowing. So obviously the mining industry will contract along with the rest of the economy. But if you're suggesting that the mining boom is going to end because of the recession then you've got to rethink your logic. China is projected to sustain strong growth (according to the IMF) and as long as Australia remains rich in natural resources and China (and other IEs) continues to industrialize there will be strong demand for our commodities.

 

[tau281290]

um no, it is not about to end. The global economy is slowing. So obviously the mining industry will contract along with the rest of the economy. But if you're suggesting that the mining boom is going to end because of the recession then you've got to rethink your logic. China is projected to sustain strong growth (according to the IMF) and as long as Australia remains rich in natural resources and China (and other IEs) continues to industrialize there will be strong demand for our commodities.

Okay, we will see who is right!

 

[BackCountrySnow]

Okay, we will see who is right!

I'm interested as to why you think the mining boom is going to end though.
read an article, saw it on the news, heard from your eco teacher?

If it ends soon, Australia as a nation is fucked. Our export base is so narrow and we are so heavily reliant on foreign capital that an end to the mining boom would collapse the whole economy.

 

[Razzah]

um no, it is not about to end. The global economy is slowing. So obviously the mining industry will contract along with the rest of the economy. But if you're suggesting that the mining boom is going to end because of the recession then you've got to rethink your logic. China is projected to sustain strong growth (according to the IMF) and as long as Australia remains rich in natural resources and China (and other IEs) continues to industrialize there will be strong demand for our commodities.

Q.E.D.?

 

[dodgyv]

i'll also lyke to no the answer to this question because I want to know what will happen when my mining goes BOOM HEADSHOT l0l

 

[Razzah]

i'll also lyke to no the answer to this question because I want to know what will happen when my mining goes BOOM HEADSHOT l0l

You're sick.

 

[BackCountrySnow]

i'll also lyke to no the answer to this question because I want to know what will happen when my mining goes BOOM HEADSHOT l0l

k thnx for insight.

Can anyone actually help me out?

 

[dodgyv]

You're sick.

l0l finally. How can she slap?

 

[Scissors]

dodgyv - WTF are you still doing here?

 

[E-Dog]

They will readily employ civil and structural engineers, as well as surveying majors. I don't want to confine myself to mining engineering either, I can't be bothered retraining when the boom busts. Trust me, they want as many people as they can get out there.

 

[BackCountrySnow]

what about mechanical engineers?
I don't want to specialize in mining also because you need to move out to some secluded hole in WA.

Also, if money didn't play a role I would be an economist. But 100k at the mines straight after graduating is hard to refuse.

 

[squiresshane990]

Well from people iv talked to in the buisness they will take civil, mining, structural, environmental and mech cos engineering at mines isn't just confined to the actual extracting on the mineral etc. They need intrastructure like roads, dams etc = civil, lots of buildings and machinery = mech and structural and enviro to keep on top of that because its a big part of the job now, cleaning up afterwards etc. So i'd say any stream would be good as long as its not too specialised like petrol chem and stuff?

 

[E-Dog]

Yeah defs. I reckon Engo is a good bet any way.

 

[BackCountrySnow]

do mines hire mechanical engineers?

 

[doink]

Yes they take mechs they even take biomeds.

 

[gcspsp]

Yes.


Mines employ various types of engineers, but most common ones are Mining, Mechanical, Electrical and Chemical.

Please do elaborate...

 

[blue_chameleon]

k thnx for insight.

Can anyone actually help me out?

China's imports of coal and steel from Australia are slowing, read this.

Up here in Newcastle, there are heaps of coking coal ships that are anchored off the coast because China is not taking the shipments. Prices are dropping for coking coal, steel and iron ore.

It won't hurt our growth rate as much as it will hurt our incomes. As China sped up and as commodity prices rose, it did a number of things. It pushed up the Australian dollar; it helped speed the rate at which Australia was growing; and it led to very strong profit growth and growth in the revenues of the Federal Government that they turned into personal income tax cuts.

Our problem is that at least some of that is about to unwind. We've already seen the weaker Australian dollar. I suspect that the next step is that as commodity prices fall, profits in Australia will fall - not just for the miners but across a number of sectors; that eventually, not straight away because that'll take time, engineering construction demand will weaken off and this will hurt the Federal Budget.

Full Transcript.

 

[BackCountrySnow]

We are heading into a global recession, demand for everything is forecast to fall. But China's economy is slowing at a slower rate than other economies so while yes, the mining boom will slow down, it won't be nearly as bad as most of the other sectors in the Australian economy.