WA exports up 18 per cent on 2016, iron ore leads the way

A Western Australian Department of Mines Industry Regulation and Safety report has revealed that the state’s exports reached nearly $105 billion over the past year, an 18 per cent increase over 2015–16 figures.

Iron ore represents a large part of the sum, with it worth about $63 billion overall, an impressive increase of 30 per cent over 2015–16 figures.

Rio Tinto alone represented $10 billion of iron ore exports for its half year 2017 (Jan–June) figures, while BHP made around $4.5 billion from its third quarter 2017 (July–Sept) iron ore exports.

LNG (liquefied natural gas) has also done well this year with about $6.8 billion of exports recorded in 2017 so far, considerably higher than natural gas’s $880 million and crude oil’s $1.45 billion amounts registered over the same period.

Figures for the 2016–17 financial year, ending June 2017, stand at $12.7 billion for LNG, $1.8 billion for natural gas and $2 billion for crude. Overall, LNG accounted for about two-thirds of total petroleum revenue in FY2017.

Mineral Resources is a rising star on this year’s list of WA-based exporters, having expanded its operations into the burgeoning lithium market.

The company recently made a deal with Hazer Group to create a large-scale synthetic graphite facility.