KPMG mining strategy national lead and program director of the KPMG Energise accelerator Ashley Brown led a panel session at METSStocks Sydney, part of the inaugural Future of Mining conference, where panellists including Petra Data Science managing director Penny Stewart and Project 412 CEO Paul Lucey outlined the biggest barriers to growth in the mining, equipment, technology and services (METS) sector.
Australia's lengthy payment terms, imposed by the biggest miners, was one area singled out.
"The payment terms are horrendous in mining," Lucey said.
"Australia is one of the worst jurisdictions for payment terms in the world."
Lucey said he'd bought a coffee before the conference and paid on his credit card, which would be debited almost immediately....