CostMine specializes in cost models, equipment costs, labor costs, supply costs and smelting and mine development costs. With the drop in the Canadian dollar in recent times against the US dollar, CostMine did a survey to find out exactly how the exchange rate impacts mining salaries, and how a rising or falling dollar will affect the salaries of those in mining.
According to CostMine’s 2014 Canadian mine survey results geologists and mining engineers received a 1 – 5% salary increase for the year. Comparing the salaries of US and Canadian mines in 2014, it appeared that Canadian metal mines were paying their employees as much as 13% more than their US counterparts. However, with the current exchange rate factored in, the tables turn and the difference drops to a 6% difference, with US employees earning more.
The table below shows the average annual salary for a Geologist, Engineer, and Mine Foreman at metal mines in Canada and the US.
CostMine does an annual survey of compensation practices at US and Canadian mines. Complete Survey reports – including actual wage and salary scales, benefit plan profiles and bonus plans for Canadian mines, and U.S. metal and industrial mineral mines can be purchased from CostMine. Details are available here or by calling 1-509-328-8023.