WA mining sector breaks records in 2013

Bill Marmion Minister for Mines and Petroleum; Housing

Western Australia’s mineral and petroleum sector reached a new record value of $113.8billion during 2013, breaking the previous record of $108billion set in 2011. Bill Marmion, Minister for Mines and Petroleum, said the State’s new record was an increase of more than $11billion or 15 per cent compared to 2012.

“The depreciation of the Australian dollar in 2013 has been a key factor in boosting the value of WA’s mineral and petroleum exports with the weaker Australian dollar helping to counter the fall in commodity prices during the year,” Mr Marmion said. “The value of sales was also assisted by increased volumes in some commodities.”

Iron ore continues to be the State’s most valuable export, accounting for $68billion (76 per cent) of the mineral sector’s total sales, with continuing strong demand increasing the quantity sold in 2013 by 16 per cent to 556 million tonnes. Gold was the second most valuable mineral commodity, with total sales of $8.7billion, representing 10 per cent of total mineral sales.

Alumina and nickel maintained long-held positions as WA’s third and fourth most valuable sectors. The total value of alumina increased by nearly 13 per cent to $4.1billion, while total nickel sales were valued at $3.4billion, a 10 per cent decrease.

With a record value of $24.7billion in 2013, WA’s petroleum sector is the State’s second most valuable after iron ore. Petroleum, which includes crude oil, condensate, LNG, natural gas and LPG (butane and propane), represented only a slight sales value increase of one per cent compared on the previous year, due to Pluto LNG coming on stream and countering falls in the sales volumes and total values of crude oil and LPG.

The Minister said the record value was further evidence that the resources sector was the backbone of the West Australian economy, and a good indication of how strongly the industry was performing.