A BHP Billiton Limited
(ASX:BHP) executive says the mining industry needs to shoulder the blame for its shrinking competitiveness.
The miner’s health, safety, marketing and technology president Mike Henry told a Bureau of Resources and Energy Economics conference that while China's prospects were bright, its demand was shifting towards those commodities in which Australia had less of an advantage, such as copper.
He says while Australia leads the world in supplying iron ore, copper is eclipsed by other suppliers including Chile and Peru.
Mr Henry says Australia is abundant in gas, but it is not as well located as the supplies of other nations.
He says Australia needs to get serious about remaining competitive.
BHP generated a net profit of $11.9 billion in fiscal 2013
