What If??? Australia’s Mining Industry…

What If??? Australia’s Mining Industry…

By ANR_Loianne Capone

While Australians are struggling due to loss of employment and or the loss of businesses it seems like the mining industry has boomed. In 2019 prior to the pandemic the mining industry made $202 billion dollars per annum. And during the pandemic it has increased by $100 billion dollars to $300 billion. So it is safe to say that the mining industry is doing well while keeping Australia afloat. As you can see in the link below the quarterly intake.

https://publications.industry.gov.au/publications/resourcesandenergyquarterlyjune2021/documents/Resources-and-Energy-Quarterly-June-2021.pdf

At the moment our government is mandating all workers to get the Covid-19 vaccination with a deadline in mind, and mainstream media reports are stating this. I have done some digging and it seems that the Mining industry is trying to contradict this by making statements as in the following statement made by the Chief Executive Officer Tania Constable from MCA_Minerals Council of Australia.

Tania Constable, Chief Executive Officer

Australian mining reviewing COVID-19 protocols, urges all workers to get vaccinated

Health and safety is the number one priority of Australian mining, which is operating under strict national COVID-19 health and safety protocols in addition to official health standards to keep its workforce, families and communities safe and sites operating. The mining sector has been reviewing our protocols throughout the pandemic and the Tanami incident has resulted in a further review to learn the lessons from this incident and strengthen the industry’s response. While COVID-19 vaccination is voluntary, given the increasing options available the MCA strongly encourages all mining workers especially FIFO workers to get vaccinated as soon as possible. The adoption of strict world-leading protocols has enabled Australia’s minerals industry to continue to operate, keeping 240,000 people in work and generating $300 billion in export revenue and one-third of company tax revenues to fund essential services and infrastructure.

https://www.minerals.org.au/national-resources-sector-position-statement-covid-19-vaccinations This link is the full Covid Plan for the mining industry.

So what will happen if the vaccination is made mandatory in the mining industry? Australia is a resource-dependent economy. The performance of the mining sector affects all Australians either directly, for example, through employment and share ownership, or indirectly, through capital investment and tax revenue. Australia is a global leader in the extraction and export of a range of key minerals, and its relationship with the growing Chinese economy places it in a favourable position for future economic growth. However, the Australian mining industry faces a number of challenges as it seeks to realise the potential which the country’s endowment of mineral wealth offers; these challenges range from economic factors such as commodity prices and terms of trade, resource availability, the determination of the economic rent which the sector earns and its subsequent redistribution, to environmental factors including government policy on carbon pricing. How these challenges are tackled will affect the Australian mining industry’s competitive position in the global economy. The performance of the mining sector affects the performance of other sectors of the economy through its influence on exchange rates and its demand for scarce resources within the economy; these influences form part of the debate on Australia’s so-called ‘two-speed economy’. At the moment the Australian mining industry employs 278,800 people which is 2.1% of Australia’s total workforce. And in the upcoming years the industry is looking to employ another 30,000-40,000.

If they decided to mandate the Covid-19 vaccine at least 20% of workers will refuse the vaccine which is a total estimate of 54,000 people and a further 10% being 27,000 people will get ill from the vaccine. In total 30% less workers which is 82,000 people leaving the mining industry. So losing that many people would be shutting at least a third of the entire mining industry in Australia. Which would create utter chaos in the industry as well as in Australia’s economy. It would put Australia into a recession. Australia unemployment will rise quickly, and will remain elevated, during a recession. With the onset of recession as companies face increased costs, stagnant or falling revenue, and increased pressure to service their debts they begin to lay off workers in order to cut costs.

The number of unemployed workers across many industries spikes simultaneously, the newly unemployed workers find it difficult to find new jobs during the recession, and the average length of unemployment for workers increases. During a recession, the economy struggles, people lose work, companies make fewer sales and the country’s overall economic output declines. Australia would fall in a bad way, we would have more people homeless and unable to feed their family’s. Suicide rates would climb in a horrific manner. All resources would be pushed to the brink of collapse or shut down completely. Australia would be at breaking point and would take years to rebuild. So the moral of this story is, if we mandate the Covid-19 vaccine to workers in the mining industry Australia will sadly fall. In more ways than it has already………..

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