Q+A: Does Australia's mining sector have a PR problem?
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What is the main topic discussed in this episode?
Welcome to Fearing Greed Q&A, where we ask and answer questions about business, investing, economics, politics and more. I'm Sean Aylmer. Mining has rarely been out of the headlines in this country. In just the last few weeks, there's been a major uranium deal signed with India, debate over foreign investment, tax headings and a few excise cuts. and the ongoing geopolitical competition for critical minerals. At the same time, the industry argues Australians often underestimate just how much mining contributes to government revenue, jobs and the border economy. Tanya Constable is Chief Executive Officer of the Minerals Council of Australia. Tanya, welcome to Fear and Greed Q&A.
Great to be with you, Sean.
Does mining have a PR problem?
Does mining in Australia actually have a PR problem and why?
I don't think many people dislike BHP or dislike Northern Star or dislike the critical minerals companies per se, PLS let's say. However, as a group, we seem to have this dislike of mining. What's that about?
I don't know that it's a dislike of mining. I think it's a lack of understanding about what mining actually does contribute. I think across Australia it's becoming better known that we make an enormous economic contribution, $399 billion over the last 10 years alone between 2013 and 2023. And if I look at just last year in company taxes and royalties, $63.8 billion. So it's a big economic contribution. And the Minerals Council of Australia has been doing a campaign to make sure that all Australians understand that economic contribution. But we're also making huge community contributions to in the way that communities are supported. But the very fabric of regional Australia and mining communities is people live there, people work there, people work in mining.
I think everybody that is involved in the mining industry is very proud of it. It's making sure that the rest of Australia and beyond understand that it doesn't help that you have programs, movies that look at the mining industry making, almost pillaging the lands. And that's not what modern mining is all about. It's much more sophisticated. It's very good in the way that it goes about its operations, the community contributions, as I mentioned, but also importantly, the standard of a living it brings to a country like Australia.
So, I mean, I grew up in a town which relied on gold mining, and it still does. You know, if you grew up in far north Queensland or parts of Queensland, coal mining was everything. Your parents didn't have a job otherwise. Like, it really is as much the fabric as banking is, as retail is. I mean, it still just surprises me why people seem to have this thing that mining's negative. Yeah. I don't really want to value judge too much on this because, you know, we're here to listen to what your view on it is. But why do people dislike mine? Like, I don't get my head around that.
What we need is much more positive view coming from decision makers, people that are involved in the mining industry, talking more positively about it because I think we have a greater opportunity to get communication out there. Everybody has a phone. digital communication is the modern way of communicating so everybody can get access to information. I think making sure that we use that new way of communicating across the globe but also in Australia and making sure we've got plenty of positive stories. I mean, this is the highest wage-paying industry in Australia, $158,000 is the average wage. I think wages are much higher than that. If you look at some of the trades, for instance, it's a few hundred thousand dollars.
If you're looking at an electrical trade, just as an example. So the highest paying wages, where you have regional towns that have mining very close to them, they tend to be much more wealthy areas. The standard of living is higher. The services are very good. So getting those positive news stories out to people that particularly live in cities like Brisbane, Sydney, Melbourne, I think Perth really understands the enormous contribution that mining makes, but certainly getting that information out to cities and helping them understand the positive stories rather than what an activist that is always going to be negative about the mining industry has to say.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:05–0:49
2
Does mining in Australia actually have a PR problem and why?
0:49–5:38
3
What economic contributions does mining make to Australia that the public may not know?
5:38–11:08
4
How can the mining industry use digital communication to improve its image?
11:08–14:06