The Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) today launched the latest edition of the Mineral and Petroleum Statistics Digest, with Western Australia delivering another impressive performance during the 2023-24 financial year.
The resources sector's outstanding results in 2023-24 were driven by mineral and petroleum sales totalling $238 billion.
The sector supported a record 134,871 full-time equivalent (FTE) positions in minerals production and construction activities, marking its seventh consecutive year of growth, with record highs achieved over the past five years.
Iron ore remained the top performer, generating $142 billion in sales, driven by higher prices and record production of 866 million tonnes. Gold followed with an all-time high of $21 billion in sales, fuelled by record-high prices.
Critical minerals, including lithium ($8.4 billion), nickel ($3.9 billion), and copper ($1.1 billion), achieved strong sales despite weaker market conditions.
WA reaffirmed its position as the nation's leading mineral explorer, with a record $2.58 billion committed. This accounted for 62 per cent of the national mineral exploration expenditure.
The sector attracted more than $32 billion of resource investment, sustaining the positive momentum that started in 2019. Investors continue to regard the sector and the State as a well-regulated and dependable business partner.
WA's resources investment pipeline remains strong, with around $50 billion in projects either committed or under construction.
DEMIRS' Director General Richard Sellers said he was pleased to see the economic benefits of Western Australia's resources sector being shared across the State, particularly in regional communities.
"WA's mining and petroleum sectors have delivered impressive results across the board," Mr Sellers said.
"It is encouraging to see the growing interest in critical minerals, from exploration to production, which will help position WA as a key player in the global transition to low-carbon economies."
DEMIRS' Statistics Digest is the annual document of record for WA's resources sector, offering detailed information, data and industry trends.
