Western Australia has held its crown as Australia’s leading destination for mining investment after attracting a staggering 66% of the nation's total mining investment in 2015-16.
The 66% figure marks a 6% rise on the 2014-15 year, where Western Australia held 60% of Australia’s mining investments.
Statistics from the ABS released recently show that $35 billion was invested in Western Australia’s mining industry in 2016-16.
It is estimated that WA currently has up to $97 billion worth of resource projects under construction as of now, with the potential of an extra $46 billion possible via future projects in the state.
Mines and Petroleum Minister Sean L'Estrange spoke of the resource industries growth in this decade and reaffirmed the government’s commitment to the industry.
"The resources industry's current value is more than twice what it was 10 years ago,"
"The Liberal National Government remains committed to fostering a strong and sustainable resources industry through policies which support mining exploration and development." Mr L'Estrange said.
During 2015-16, Australia had more than $1.4 billion in mineral exploration activity, with WA taking up $871 million of this figure.
Of specific minerals and resources, iron ore continued to be WA’s most valuable commodity, with $48.4 billion of sales accounting for 71 per cent of total mineral sales in 2015-16.
"We are the world's largest exporter of iron ore and currently produce 757 million tonnes per annum," said Mr L’Estrange.
The 2nd most valuable resource was LNG (liquefied natural gas) which brough t in $10.8 billion to the Western Australian mining economy.
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