Western Australia’s resources sector successfully navigated the global pandemic to deliver mineral and petroleum sales valued at a record $174 billion in 2020. This eclipses the previous single calendar year or financial year record of $173 billion set in 2019-20.
According to the latest statistics release by the Department of Mines, Industry Regulation and Safety (DMIRS), this strong result was principally driven by:
- Iron ore sales valued at a record $116 billion on the back of record sales volumes and the highest iron ore prices since 2011;
- Gold sales reaching another all-time high of more than $17 billion supported by a record annual average Australian dollar gold price of more than $2500 per ounce; and
- Nickel sales increasing amid higher volumes to more than $3.3 billion, the highest value in six years.
Employment in the resources sector was a star performer, with an average of 140,940 people representing yet another record.
Additionally, more than $20 billion was invested in the state’s mining and petroleum sector, up from $17 billion in 2019. This represents the highest level since 2017.
Mines and Petroleum Minister, Bill Johnston, said Western Australia and its resources sector have successfully navigated the pandemic to deliver these impressive figures.
“It’s great to see mining employment grow for the fourth year in a row,” the Minister 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 resource discovery.”
“With around $140 billion of resource projects in the pipeline, Western Australia’s future continues to look promising,” he commented.
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