WA tops investment table

WESTERN Australia has attracted two thirds of Australia’s mining investment for the financial year just gone with $35 billion invested in the state during 2015-16.
WA tops investment table WA tops investment table WA tops investment table WA tops investment table WA tops investment table

WA leading resources investment in Australia.

Noel Dyson

According to the Australian Bureau of Statistics, besides the $35 billion investment, WA had about $97 billion of resources projects under construction and another $46 billion of future projects.

WA Mines and Petroleum Minister Sean L’Estrange said although the value of the resources industry was down 12% from 2014-15, the sector’s value remained strong at $87.9 billion in 2015-16.

“The resources industry’s current value is more than twice what it was 10 years ago,” L’Estrange said.

During 2015-16 Australia attracted $1.4 billion in mineral exploration activity with WA accounting for more than 62% of that spend at $871 million.

Iron ore remained the state’s most valuable commodity with sales of $48.4 billion accounting for 71% of total mineral sales in 2015-16.

“We are the world’s largest exporter of iron ore and produce 757 million tonnes per annum,” L’Estrange said.

Gold production value increased for the second consecutive year to a record $10 billion.

That was largely driven by the gold price rising from an average $1479 per ounce in 2014-15 to an average $1613/oz in 2015-16.