Large parts of this are folklore.
Mining jobs are generally highly sought after with tons of applicants (especially the less skilled ones), and have absurdly low job security (read: if we take another GFC like hit they'll fire 2-3x as many staff as the other sectors).
You do get paid well in the short term, but it's high risk and doesn't always pay well in the long run because of the high rates of retrenchment & long periods of unemployment that can follow.