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This growth is forecast to continue with more than $300
billion worth of major resources projects and associated
infrastructure developments planned, committed or under
construction over the next few years.
Adding to the growth is the continued investment into
exploration. During FY2011, Western Australia’s mineral
exploration alone was worth $1.6 billion, representing
54% of the Australian total. The state’s petroleum exploration
was worth $2.4 billion in the same period, 73% of the
national total.
The state government’s $80 million Exploration Incentive
Scheme (EIS), funded by Royalties for Regions, continues
to take some of the financial risk out of exploring in greenfield
areas of the state. The EIS Co-funded Drilling Program
has offered more than $14 million to co-fund over 100
exploration projects in underexplored areas of the state in
the last three years.
There has also been critical progress on a number of major
infrastructure developments that will help support the future
growth of the resources industry.
Major infrastructure projects include the Browse LNG
precinct to capitalise on the massive offshore Browse Basin
gas reserves, a new multi-user, multi-commodity deepwater
port and industrial area at Anketell to benefit Pilbara iron
ore producers, and the Pilbara Cities Initiative for which
$977 million has been committed to the end of 2013-14.
At the same time as supporting growth, improving mine
safety continues to be a major priority for the government,
which is pursuing better outcomes through the Reform and
Development at Resources Safety (RADARS) initiative. We
remain committed to working with industry to deliver a
resilient safety culture for the resources sector.
I would like to thank members of the WA Mining Club
for contributing to the economic prosperity of all Western
Australians, and wish you continued success.
RESOURCES SECTOR
CONTINUES TODRIVE GROWTH
Colin Barnett MLA
PREMIER
CHRISTIAN FLETCHER, OPERATIONS NEAR DAMPIER, 2010
Welcome to readers of the West Australian Mining Club’s
Minesite
publication for 2011.
Western Australia’s resources industry has continued to
grow at an impressive rate over the past year during a time of
global economic uncertainty.
The state government remains committed to the
responsible development of resources and infrastructure,
with the support and expertise of the Department of Mines
and Petroleum and the Department of State Development.
The state’s resources sector continues to be the envy
of our competitors across the globe. The value of Western
Australia’s minerals and petroleum was $101.2 billion in
FY2011, an impressive 39% increase on FY2010.
Of this record result the minerals sector accounted for
$78 billion, with iron ore by far the most valuable commodity
accounting for $57.3 billion. Our resources contributed
a substantial 95% towards the state’s total merchandise
exports in FY2011.
MINESITE 2011
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