01/04/2021 - 15:34

WA’s resources sector hits records

01/04/2021 - 15:34

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The value of production and number of jobs in Western Australia’s resources sector has reached new levels.

WA’s resources sector hits records
Iron ore mines like Cloudbreak have boosted the value of exports.

The value of production and number of jobs in Western Australia’s resources sector has reached new levels.

Total sales in 2020 were worth $174 billion, according to statistics released today by the Department of Mines Industry Regulation and Safety.

Iron ore led the way with record sales of $116 billion, helped by the highest prices since 2011.

Gold was also a strong performer with more than $17 billion in sales, an all-time high.

Nickel sales increased to $3.3 billion, which was the highest value in six years.

Employment in the resources sector averaged 140,940 people.

The department said more than $20 billion was invested in the WA mining and petroleum sectors, up from $17 billion in 2019.

This was the highest level of investment since 2017.

Mines and Petroleum Minister Bill Johnston said the state’s resources sector had successfully navigated the pandemic to deliver these impressive figures.

“Creating and supporting jobs is one of the McGowan government’s top priorities, so it’s great to see mining employment grow for the fourth year in a row,” he said.

“It was especially pleasing to see exploration expenditure and employment continue to strengthen given the important role the sector plays in finding the next big resources discovery.

“With around $140 billion of resource projects in the pipeline, WA’s future continues to look promising.”

Chamber of Minerals and Energy of Western Australia chief executive Paul Everingham said the figures underscored the sector’s vital contribution to the WA and national economies.

“Ultimately, record sales are positive news for everyone in WA,” he said.

“In the 2019-20 financial year, royalties paid by our sector totalled $9.2 billion, which made up nearly 29 per cent of all WA government revenue.

“That revenue helps the WA government fund education, health care and other key government services.

“On a national level, the corporate taxes paid by mining and resources companies on record sales have helped fund vital COVID-19 support mechanisms such as JobKeeper and JobSeeker.”

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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