Francis Logan

Francis Logan

Minister for Energy; Resources; Industry and Enterprise

    WA’s resilient resources earn $53billion

    7/04/2008 12:00 AM
     

    Western Australian mineral and petroleum sales jumped seven per cent in 2007 to be worth an impressive $53.1billion, according to figures released today.

     

    Resources Minister Francis Logan said the $3.6billion increase was due to increased output and strong international demand and commodity prices.

     

    “These figures are remarkable in light of the Australian dollar strengthening by 11 per cent in 2007 and adverse weather conditions, and equipment and skills shortages hampering production,” Mr Logan said.

     

    “The State’s petroleum, iron ore and nickel sectors exhibited particular resilience and made up about 75 per cent of the sales total.”

     

    The Department of Industry and Resources figures show petroleum was WA’s biggest 2007 earner, with a $1.2billion (eight per cent) sales increase helping it achieve a record $16.7billion value.

     

    Iron ore was a close second, with a sales increase of $1.4billion (nine per cent) resulting in a $16.1billion contribution.

     

    Nickel sales climbed an astonishing $1.1billion (19 per cent) to be worth $7billion, with strong world prices making up for a fall in the quantity of sales.

     

    Mr Logan said demand from WA’s trading partners, in particular China, was expected to remain strong beyond 2008.

     

    “WA now accounts for half of the total value of Australia’s mineral and petroleum sales and our resources sector shows no signs of slowing down,” he said.

     

    “Iron ore’s record run should continue following mine and port expansion and continuing strong demand, while petroleum is benefiting from high world oil prices and increasing crude oil sales volumes.”

     

    The complete statistics are available at http://www.doir.wa.gov.au/lateststatisticsrelease .

     

    Minister's office - 9222 8950