Get ready for recovery: Coffey

Coffey Mining chief executive Dan O’Toole said that now that businesses were restructuring, the availability of talent coming onto market presented a key opportunity. “If they are top talent, we want them. We are looking at attracting the best people for our operations, not just in Australia but globally.” O’Toole said he wants Coffey Mining to be the leading technical services provider in the industry when commodity prices recover. “There are opportunities to leapfrog ahead to a place that would have taken us a greater number of years to achieve if we had been in a normal operating environment.” With the commodities boom unwinding over the past five months, O’Toole said companies need to look at improving costs, productivity and the way they mange projects, adding this might require some cultural change. “Previously, because of the skills shortage and employee expectations, we observed an increase in flexible rosters and reduction in site time at many mining operations.” O’Toole said this was likely to change as companies moved to increasing productivity. “Companies are also looking to increase the grade of the commodities they are mining and reduce the waste material to be removed,” he said. “They are rescheduling operations and in some cases reconsidering larger bulk-mining methodologies in favour of smaller, higher grade operations.” The Coffey’s chief recommended solid strategies to manage the downturn and plan for the recovery. “In the long term globally, people are looking to maintain their lifestyles and improve their standard of living. “This means they will continue to consume products and we will continue to have demand for the commodities that are developed into those products.”

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