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Vol. 12, No. 43 Week of October 28, 2007
Providing coverage of Alaska and Northwest Canada's mineral industry

MINING NEWS: Survey shows higher salaries, more bonuses for mining industry employees

Average base salaries paid to mining site workers in Canada climbed 3.8 percent since 2006, according to findings of an independent annual survey.

In addition, 80 percent of the staffers were eligible for short-term cash incentives this year, compared with 73 percent in 2006, reported Coopers Consulting Ltd. and PricewaterhouseCoopers LLP in the “2007 Mining Industry Salary Surveys.”

The average bonus paid in 2007 climbed to 16 percent of base salaries, compared with 13 percent a year earlier.

Chief executive officers of mining companies, by comparison, enjoyed average base salary increases of 7.2 percent, with 96 percent eligible for incentives. Average cash incentives paid to mining CEOS in 2007 were 71.4 percent of base salaries, compared with 66.1 percent a year ago.

The 2007 survey reflects data collected on 8,797 individuals – 5,386 in Canada and 3,411 in the United States – working for 70 Canadian mining companies with 97 operating mines in Canada.

“We have seen significant changes both in annual base pay and composition of the compensation packages for the mining sector since it emerged from a protracted slump in about 2002,” said Lou Vujanich, survey leader and principal of Coopers Consulting.

On average, annual base pay for salaried mine workers has climbed 18 percent since 2002, and with about 80 percent of these positions eligible for cash bonuses, up from 59 percent.

Recent growth in the industry and demand for skilled workers are major drivers behind the changes, the surveyors said.

—Mining News



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