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Iron, gold, lithium drive record WA sales

Western Australia's resources sector has registered record sales of $231 billion and its highest-ever employment figures in 2021-22.

Western Australia’s resources sector has registered record sales of $231 billion and its highest-ever employment figures in 2021-22.

This is the fourth financial year in a row the sector has delivered record revenue, following $151b in 2018-19, $172b in 2019-20 and $211b in 2020-21.

Employment in the sector rose to an all-time high of more than 157,700 workers, an increase of around six per cent on the previous financial year.

Iron ore maintained its historically high status with sales of $137b, gold hit another record with sales of $17b, while nickel recorded sales of $4.9b.

Surging lithium prices drove the value of spodumene concentrate sales to a record $6.8b – more than two-and-a-half times its previous record. Lithium was WA’s third highest mineral by sales value.

Mineral exploration expenditure reached a new high of $2.5b with strong levels of spending on gold, nickel, copper, rare earths and lithium.

More than $24b was invested in WA’s mining and petroleum sector – the highest level since 2016, and the state has around $57b of resources projects under development and a further $87b in medium and longer-term projects in the pipeline.

Premier and Treasurer Mark McGowan said the results proved the state was the backbone of the nation’s economy.

Editor of industrial titles and mastheads with Prime Creative Media. Publications include Rail Express and Australian Mining (web content).
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