Australia

Details

  • Industry: Energy & Natural Resources, Mining, Oil & Gas
  • Type: Business and industry issue, Regulatory update
  • Date: 30/01/2013

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 – December 2012 

Confidence has returned to the market on the back of solid price rises in iron ore, according to the Chamber of Minerals and Energy of Western Australia’s (CME) latest edition of the WA Resources and Economics Report, prepared in conjunction with KPMG.

Notwithstanding the softening of prices towards the end of last year, WA and the wider economy continues to benefit from the growth in the resources sector. Ongoing investment and growth is maintaining record levels of employment in WA.


The December report features an interview with Mr Graham Ehm, Executive Vice President - Australasia, AngloGold Ashanti Limited, where he provides insights that further highlight the increased cost of doing business in Western Australia, how this has effected mine operations as well as touching on the impact of the relatively stable price of gold.

 

Key insights

  • The latest ABS September quarter national accounts reflect a 0.5 percent increase in GDP during the September quarter, putting year-on-year GDP growth at 3.1 percent.
  • As at October 2012, committed capital expenditure on major projects in Western Australia increased by 4.1 percent to $141 billion from the $135 billion at the end of April 2012.
  • Western Australian resources companies total market capitalisation at the end of November 2012 stood at $86 billion, an increase of 2.1 percent from the end of August 2012.
  • National accounts show Australia’s terms of trade continue to decline, falling 4.0 percent in the September quarter.
  • September quarter saw increases in production for iron ore and copper but falls in production for gold, nickel and titanium minerals.