Canadian miners could increase productivity by 2 per cent and create $300 million in productivity improvements by focusing on internal efficiencies, according to Proudfoot Consulting, a productivity consulting firm based in Atlanta, Georgia.
Using mining sector data from its Global Productivity Report, Proudfoot also found that mine managers around the world spend more of their time on administrative tasks than managers from any other sector. What's more, the report also found that although they spend 44 per cent of their time on such tasks, most felt they should spend only 34 per cent of their time on administration, representing at 10 per cent waste.
Other efficiency barriers identified in the report include bureaucracy and red tape, which prevent new ideas from being implemented.
Global data also showed that 31 per cent of mining managers identified skilled labour shortages as the largest obstacle to improved productivity. While recessionary times make this less of a factor, Proudfoot argues that efficiency improvements allow for more staff to be retained, thus providing a competitive advantage once commodity prices turn around.
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