The Hon. Mark McGowan, Premier and Treasurer of WA, The Hon. Invoice Johnston, Minister for Mines and Petroleum (WA), Joint Media Launch, 5 October 2022
Western Australia’s assets sector continues to drive the State and nationwide economies, with report gross sales of $231 billion and the highest-ever employment figures in 2021-22.
That is the fourth monetary 12 months in a row the sector has delivered report gross sales, following $151 billion in 2018-19, $172 billion in 2019-20 and $211 billion in 2020-21.
Employment within the sector rose to an all-time excessive of greater than 157,700 staff, a rise of round six per cent on the earlier monetary 12 months.
Iron ore maintained its traditionally excessive standing with gross sales of $137 billion, gold hit one other report with gross sales of $17 billion, whereas nickel recorded gross sales of $4.9 billion.
Surging lithium costs drove the worth of spodumene focus gross sales to a report $6.8 billion – greater than two-and-a-half instances its earlier report. Lithium was WA’s third highest mineral by gross sales worth.
The petroleum sector continued to get better following a downturn in the course of the pandemic. LNG manufacturing was valued at an all-time excessive of $38 billion and condensate manufacturing was valued at a report $8.6 billion.
Mineral exploration expenditure reached a brand new excessive of $2.5 billion with robust ranges of spending on gold, nickel, copper, uncommon earths and lithium.
Greater than $24 billion was invested in WA’s mining and petroleum sector – the best stage since 2016, and the State has round $57 billion of assets tasks below growth and an extra $87 billion in medium and longer-term tasks within the pipeline.
For extra info, go to http://dmp.wa.gov.au/About-Us-Careers/Newest-Statistics-Launch-4081.aspx
Feedback attributed to Premier and Treasurer Mark McGowan:
“These outcomes once more spotlight the success of our Jobs Plan and our dedication to creating long-term employment for Western Australians.
“Our unrivalled financial administration and rising assets sector reveals time and time once more that our State is the spine of our nation’s economic system.”
Feedback attributed to Mines and Petroleum Minister Invoice Johnston:
“These distinctive outcomes proceed to ship jobs and excellent financial advantages to Western Australia and our regional communities.
“It’s particularly pleasing to see the expansion in battery and demanding minerals corresponding to nickel, lithium and uncommon earths given the worldwide transition to inexperienced vitality.
“WA has a confirmed observe report as a dependable funding companion and these outcomes are a testomony to our financial stability, authorized readability and regulatory certainty.”
Originally published at Gold Coast News HQ
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