The Chamber of Minerals and Energy of Western Australia (CMEWA), in conjunction with KPMG, present a quarterly publication providing a resources and economic update on the state of Western Australia.
This quarter's 'Spotlight Issue' focuses on securing a skilled labour force and the ways resource companies are looking at to meet this challenge including training, succession planning and workforce delivery.
We interview Managing Director of Chevron Australia, Roy Krzywosinski who provides an insight into the impact Chevron’s projects are having on the wider Australian economy.
- The March quarter is relatively quiet for mineral and petroleum exploration due to seasonal factors amongst others, recording a 23 percent drop from the previous quarter to $883 million.
- New minerals projects added to the Bureau of Resource and Energy Economics advanced project list include Rio Tinto’s Nammuldi mine expansion, Atlas Iron’s Horizon 1 growth project and Wesfarmers’ ammonium nitrate plant expansion.
- Total market capitalisation of WA resource companies at end May 2012 was $92.8 billion, a decrease of 21 percent from end of February 2012 reflecting renewed market concern about the Greek debt crisis and possible China slowdown.
- Australia's terms of trade continued to decline, falling 4.3 percent partially caused by a weakening in the price of exports due to slowing demand.