Australia

Details

  • Industry: Energy & Natural Resources, Mining, Oil & Gas
  • Type: Business and industry issue, Regulatory update
  • Date: 29/06/2012

Western Australia Resources and Economics Report

Western Australia Resources and Economics Report
Quarterly publication providing a resources and economic update on the state of Western Australia.

WA Resources and Economics Report – June 2012 

Western Australia continues to benefit from the resources sector however uncertainty around the Greek debt crisis, a possible slowdown in China’s economic growth and three tropical cyclones which have affected the production of key commodities has translated to falling business confidence.
Western Australia Resources and Economics Report - June 2012 cover
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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.
 

Key insights

  • 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.
 

Energy & Natural Resources

KPMG's Energy & Natural Resources team provides services to all key sectors: mining, oil and gas, power and utilities, renewables, forestry and water.