Mining training could be paying off for many Western Australian (WA) companies, as the state’s resources industry recorded its second strongest financial performance on record.
The WA mineral and petroleum sector was worth $103 billion in 2012-13, making it the third year in a row that its value has risen above $100 billion.
Mines and petroleum minister Bill Marmion said the data, which was compiled from departmental records, shows just how robust the state’s mining sector continues to be.
He highlighted the government’s efforts to reduce red and green tape across the sector as instrumental to its success, as well as pointing to improved efficiencies.
“I am working with the Department of Mines and Petroleum to drive down costs and attract ongoing resources investment into WA, for the benefit of West Australians,” he explained.
“What this means is jobs, jobs, jobs for West Australians.”
Iron ore remains WA’s primary commodity in terms of value, comprising 73 per cent of total mineral sales – the equivalent of $56.4 billion.
The petroleum sector experienced solid growth, jumping 2.9 per cent in value to $24.5 billion due to the continued success of LNG, which saw output rise by 29 per cent to 19.8 million tonnes.
Mr Marmion said the government is keen to remove any other barriers to the mining industry that could prevent the state from staying competitive.
However, he emphasised that this would not affect how diligently the government would approach the issue of maintaining standards.
“Upholding environmental standards and improving efficiency, WA has … recently extended program of works validity from two to four years and we continue to offer two rounds of government co-funding a year to projects,” he said.
The state achieved the highest ranking in Australia on the Fraser Institute Survey of Mining Companies in 2012-13, while being the 15th best exploration destination worldwide.