According to BIS Shrapnel, Australian mining output growth may start to slow down by 2007 or 2008 since the resources boom in Australia may be replicated overseas, possibly resulting in oversupply. “Nevertheless, Australia has some of the largest and richest commodity reserves in the world, and the longer-term outlook remains very positive for Australia’s minerals industry. Continued investment, efficient mining operations and vast mineral resources augur particularly well for the medium to long-term outlook,� BIS Shrapnel predicted.

By 2015, BIS Shrapnel said 162,275 Australians will be needed in mining, representing a 70,000-worker increase over the next decade. Western Australia and Queensland will have the strongest demand for labor, due to high growth in copper, nickel and bauxite.

Meanwhile, an additional 15,785 employees will be needed in Australian coal mining by 2015. Iron ore will require an additional 13,441 employees during that same period, while gold mines will need 7,061 more employees. Bauxite’s project employment demands will necessitate the hiring of 10,712 more workers. In the meantime, 10,372 more employees will be needed by copper mines. Projected employment needs in nickel will require 8,842 extra workers by 2015, while zinc mines will need 2,347 more employees, along with lead mining’s demand for 944 more workers. Finally, uranium mining will require 654 additional employees.

The report found that an additional 22,058 semi-skilled workers will be required in the natural resources sector. Competencies associated with mechanical and electrical trades are also a high priority for mining, which requires an additional 26,893 in mechanical and electrical jobs.

At the other end of the spectrum, the report determined that the Australian mineral industry has experienced a chronic shortage of minerals graduates, especially mining and metallurgical engineers for the last decade. Over the next 10 years, the resources sector will need 7,659 additional mining professionals.