Another impressive year for Western Australia’s resources sector

Statistics Digest details 2022–2023 as a record-breaking year for the sector.
Date: Monday, 25 March 2024

Western Australia remains a resources powerhouse after another year of stellar mineral and petroleum sales.

The sector recorded $254 billion of sales in 2022–2023, according to the Statistics Digest released by the Department of Energy, Mines, Industry Regulation and Safety.

The digest provides detailed editorial and statistical information on the performance of Western Australia’s resource sector during the past financial year.

In addition to record sales, the sector employed 126,481 full-time equivalent jobs, marking six consecutive financial years of employment growth. 

The iron ore sector achieved ground-breaking levels of production during the year, with $125 billion in sales during 2022–2023. The commodity accounted for 68 per cent of all mineral sales, remaining the backbone of the Western Australian resources sector.

The liquefied natural gas (LNG) industry achieved an all-time high production volume and a production value of $56 billion.

Twenty-seven billion dollars was invested in Western Australia’s mining and petroleum sector during the year, driven by new and expanding lithium and iron ore projects. These investments are at the highest level for a single financial year since 2015–2016.

Exploration expenditure was at record levels, due to spending on gold, iron ore, and critical minerals which are essential to a net zero emissions future.

The Western Australian Government received $12.76 billion in royalties and related grants from minerals and petroleum producers in 2022–2023.

DEMIRS’ annual Statistics Digest is used by a range of global market analysts, investment banks and industry associations.

For more information, visit our Statistics Digest page.