Mining boom continues to ramp up as $75 billion of investments come to WA

A collective effort by some of WA’s biggest mining companies, seems to be ramping up to a possible new boom phase for the mineral dependant state.

This week mining giant Rio Tinto gave the go ahead on a $3.5 billion iron ore hub, which will contribute greatly to employment in the state. Though a skills shortage may see migration into WA as people with the abilities needed move in from other areas.

In the southwest of WA, the Greenbushes mine (which holds the worlds largest deposit of lithium battery critical minerals) is set to see a $600 million expansion, with minerals being processed at new plants in Kwinana and Kemerton.

The Wodgina lithium concentrate plant near Port Hedland will represent a $610 million investment in the area and the lithium mine and refinery at Mt Holland will represent a further investment of $800 million. While the gold sector continues to expand with the $621 million Gruyere gold mine addition.

Meanwhile in the Energy sector, the Woodside headed “Browse” joint venture, looks set for a potential $28 billion development with the nearby Scarborough field soaking up another $15 billion.

These and other major investments by companies like Chevron, Perdaman Resources, BHP and Fortescue Minerals Group in LNG, UREA and Nickel all up approach the $75 billion dollar investment mark, which is a major windfall for the states economy and as a result it’s employment and housing sectors are sure to benefit also.

As Chamber of Minerals and Energy boss Paul Everingham remarked about the glut of new capital flowing into the states mining/energy industry “There will be thousands of jobs associated with these projects. Too many for just Western Australians to fill. Industry is working … to ensure that regulatory approvals for these projects are processed in a timely manner and that the industry can access potential employees from a wide area.”