The Australian dollar slipped dramatically in 2015 and is showing few signs of a rebound, providing a positive for a sector undergoing a challenging transition away from the boom.

Job cuts in Australia’s mining industry have been rife in recent times as companies strive to lower their costs to a sustainable level in the wake of the commodity cycle downturn.

 

There is no doubt mining companies have a number of hurdles to overcome on their quest towards operation.

 

The recent downward plight of Australia’s mining industry has hit a number of other areas hard, and while the future is bright, there are likely few to have felt the impact quite as much as the METS sector.

 

 

When enterprising Chinese immigrants came to Australia in the 1930s to make their fortune during the gold rush it became clear the financial and economic prowess of Asian business was not to be scoffed at.

While another year of volatile and declining commodity prices sees most junior mining and exploration companies still doing it tough, a 2015 survey revealed it is gold juniors who have the brightest prospects heading into the new year.

Sixty per cent of mining equipment, technology and services (METS) players are concerned about the current state of the market, according to a recent Austmine survey.

The options for companies with little money and no access to capital are cut and dried – they either disintegrate or look for new opportunities to make money.

As 2015 winds down and once the Christmas party haze wears off, it will be time to look to the year ahead.

Coal will remain a key part of the global energy mix for many years to come, according to Greg Evans, Executive Director - Coal, Minerals Council of Australia.

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