Presentation: WA’s Resources Sector in Transition: Securing long term value in a changing world

View the slides by lead Bankwest Curtin Economic Centre authors Professor Alan Duncan and Dr Silvia Salazar from the launch of the report WA’s Resources Sector in Transition: Securing long term value in a changing world.

About the report

The latest report in the Focus on Industry series provides a comprehensive analysis of Western Australia’s resources sector. The report explores the contribution the sector makes to the economy, the structural forces reshaping its future and the policy choices available to strengthen resilience and secure long term value in a rapidly changing global operating environment.

• The resources sector contributes close to $200 billion each year, underpinning jobs, exports and government revenue.
• Iron ore generates around $126 billion in output and more than 80 per cent of WA’s royalty revenue, highlighting exposure to a single commodity.
• Four in every five export dollars earned by Western Australia come from trade with China.
• The sector supports around 700,000 jobs nationally and generates approximately $241 billion in economic activity across Australia.
• Resource companies contribute almost 40 per cent of total company tax revenue in Australia.
• Critical minerals, processing and value-added industries could exceed $100 billion annually by 2050, up from around $20 billion today under an accelerated scenario.
• Mining and petroleum royalties delivered almost $10 billion last year, accounting for around 20 per cent of State revenue.
• Fiscal policy settings can materially alter long-term public value capture, with differences measured in billions of dollars over the life of major projects.
• Future growth will be driven by value, not volume. The next phase of prosperity will depend on capturing more value from resources through processing and downstream industries.

Read the full report here