Minerals and petroleum sales back above $100 billion mark

WA's mineral and petroleum industry was valued at $104.95 billion in 2016-17
Date: Friday, 15 December 2017

Western Australia's mineral and petroleum industry was valued at $104.95 billion in 2016–17 according to statistics released by the Department of Mines, Industry Regulation and Safety.

Iron ore remained the State’s highest value commodity with $67.3 billion in sales.

Project expansions and strong demand led by China helped iron ore reach record production quantities.

Western Australia produced 790 million tonnes of iron ore in 2016-17, a six per cent increase compared to the previous year.

The sales value also increased 31 per cent thanks to stronger than expected iron ore prices.

Gold sales broke the 200 tonne mark for the first time since 2000-01.

Increased production volumes combined with strong gold prices to deliver a seven per cent increase in the sector’s value, from $10.1 billion in 2015–16 to $10.8 billion in 2016–17.

Total production from the petroleum sector was valued at $19.1 billion, an increase of five per cent on the previous year. This included a record volume of LNG, which has increased 45 per cent in the past five years.

Sales rose almost $2 billion on the previous year, from $10.8 billion to $12.7 billion.

For a total breakdown of mining and petroleum statistics, download the 2016–17 digest from the department's website.