Quotes

"Fascism and communism both promise "social welfare," "social justice," and "fairness" to justify authoritarian means and extensive arbitrary and discretionary governmental powers." - F. A. Hayek"

"Life is a Bungling process and in no way educational." in James M. Cain

Jean Giraudoux who first said, “Only the mediocre are always at their best.”

If you have ten thousand regulations, you destroy all respect for the law. Sir Winston Churchill

"summum ius summa iniuria" ("More laws, more injustice.") Cicero

As Christopher Hitchens once put it, “The essence of tyranny is not iron law; it is capricious law.”

"Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan

"Law is where you buy it." Raymond Chandler

"Why did God make so many damn fools and Democrats?" Clarence Day

"If I feel like feeding squirrels to the nuts, this is the place for it." - Cluny Brown

"Oh, pshaw! When yu' can't have what you choose, yu' just choose what you have." Owen Wister "The Virginian"

Oscar Wilde said about the death scene in Little Nell, you would have to have a heart of stone not to laugh.

Thomas More's definition of government as "a conspiracy of rich men procuring their own commodities under the name and title of a commonwealth.” ~ Winston S. Churchill, A History of the English Speaking Peoples

“Laws are like cobwebs, which may catch small flies, but let wasps and hornets break through.” ~ Jonathon Swift

Thursday, November 17, 2011

Gold Rush, Back to the basic Minerals - The $200,000-a-Year Mine Worker

The $200,000-a-Year Mine Worker - WSJ.com
ASIA BUSINESS By JOHN W. MILLERNOVEMBER 16, 2011

excerpt-

"It's a historical shortage," says Sigurd Mareels, director of global mining for research firm McKinsey & Co. Not just in Australia, but around the world. In Canada, example, the Mining Industry Council foresees a shortfall of 60,000 to 90,000 workers by 2017. Peru must find 40,000 new miners by the end of the decade.

Behind this need for mine workers is a construction boom in China and other emerging economies that has ramped up the demand for iron ore, used to make steel, and other metals used in construction, such as copper, typically used for wiring buildings.

[MINER]

The manpower dearth comes with a hefty price tag. "Inflationary pressures are driving up costs and wages at mining hot spots like Western Australia, Chile, Africa," said Tom Albanese, CEO of Rio Tinto PLC the world's third-biggest miner by sales. "You're seeing double-digit wage growth in a lot of regions."

The shortage is particularly acute in Australia, the world's biggest source of iron ore and the world's second-biggest gold producer.

The Minerals Council of Australia estimates the country needs an additional 86,000 workers by 2020, to complement a current work force estimated at 216,000. "It's a tight labor market and difficult cost environment," said Ian Ashby, president of BHP BillitonLtd.'s iron-ore division. To attract workers, BHP and other companies are building recreation centers, sports fields and art galleries in hardscrabble company towns. BHP said rising manpower and capital costs reduced earnings by $1.2 billion during the first half of 2011, when the company posted profit of $11.2 billion.

-Read on at link-

Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)