Record jobs and sales in WA’s resources sector

Western Australia’s resources industry experienced record sales of $172 billion in the 2019-20 financial year, according to statistics released by the WA Department of Mines, Industry Regulation and Safety.

Iron ore sales reached a record $103 billion on increased output and an eight-year price high.

Gold sales also soared to an all-time high of almost $16 billion, with prices averaging more than $2,300 per ounce.

Mineral exploration expenditure hit $1.7 billion, an increase of 17 per cent from $1.4 billion in 2018-19.

Oil sales increased to $2.6 billion on higher volumes, despite lower prices across the first half of 2020, while nickel sales recovered to more than $3.1 billion, a four-year high.

A record average of 135,000 people were employed in the resources sector during 2019-20, up from 128,374 the previous year. Iron ore and nickel construction activities accounted for most of the growth, while exploration employment also increased 12 per cent.

Almost $19 billion was invested in WA’s resources sector, up from $17 billion in 2018-19.

This represents the first year-on-year increase in mining and petroleum investment since the 2012-13 iron ore and LNG boom. There are currently more than $100 billion worth of projects in the pipeline.

For more information, visit http://dmp.wa.gov.au/About-Us-Careers/Latest-Statistics-Release-4081.aspx

Source: WA Government