Iron ore sales reached a record $78.2 billion in 2018-19 and gold sales reached an all-time high of almost $12 billion with the Australian dollar gold price at record levels.
The Australian dollar gold price averaged $1,958 in June, which is the first time it has broken through the $1,900 mark.
The figures were revealed in the Department of Mines, Industry Regulation and Safety’s latest statistics release for 2018-19.
Figures show Western Australia’s mineral and petroleum industries reported sales of $145 billion. The $30 billion increase in sales, compared to 2017-18, was the result of improved iron ore prices and increasing LNG volumes.
Alumina and bauxite sales reached a record $8.3 billion following continued increases in bauxite exports and LNG sales increased more than 50 per cent to reach almost $29 billion.
The average number of individuals employed in the WA minerals sector in 2018-19 was 124,010, up from 112,008 the previous year.
According to the Australian Bureau of Statistics, almost $17 billion was invested in the State’s mining industry, representing about 51 per cent of national expenditure.
For more information, visit https://dmp.wa.gov.au/About-Us-Careers/Latest-Statistics-Release-4081.aspx
As stated by Mines and Petroleum Minister Bill Johnston:
“These record figures across the mining sector reflect the strength of the McGowan Government’s commitment to supporting industry investment in Western Australia and creating jobs.
“State Government initiatives such as the Exploration Incentive Scheme and Streamline WA, which is improving regulatory practice, is helping the resources industry succeed.
“Interest and investment in the resources sector remains strong, WA projects in the pipeline had an estimated value of $108 billion in September 2019.”
