Western Australia attracts 66% of country’s total mining investment

5 October 2016 (Last Updated October 5th, 2016 18:30)

A new report has revealed that Western Australia (WA) attracted 66% of Australia's total mining investment in 2015-16, increasing its share from 60% in the previous fiscal year.

A new report has revealed that Western Australia (WA) attracted 66% of Australia's total mining investment in 2015-16, increasing its share from 60% in the previous fiscal year.  

According to the Australian Bureau of Statistics, A$35bn ($26.6bn) was invested in WA's mining industry in the 2015-16 period.

According to figures from September, WA had an estimated A$97bn ($73.8bn) of resource projects under construction and an additional A$46bn ($35.7bn) of potential future projects.

"We are the world's largest exporter of iron ore and currently produce 757 million tonnes per annum."

Western Australian Mines and Petroleum Minister Sean L'Estrange said: "The resources industry's current value is more than twice what it was ten years ago.

"The Liberal National Government remains committed to fostering a strong and sustainable resources industry through policies, which support mining exploration and development. We are the world's largest exporter of iron ore and currently produce 757 million tonnes per annum."

L'Estrange added that though the value of the resources industry was down 12% from 2014-15, the value of the sector remained strong, at approximately A$88bn ($70bn) in 2015-16.

In 2015-16, Australia attracted A$1.4bn ($1.06bn) in mineral exploration activity, with WA accounting for more than 62% of this expenditure.

Iron ore remained WA’s most valuable commodity, with iron ore sales of A$48.4bn ($36.8bn) accounting for 71% of total mineral sales in this financial year.