WA mining the engine room of the nation

WA mining the engine room of the nation

The State Government has highlighted the importance of the mining industry to the State in its new online gateway to drive investment into WA.

The Invest and Trade WA website, launched earlier this year, is aimed at promoting Western Australia as a world-class investment destination.

The WA mining industry is highlighted on the website as one of the world’s greatest mineral and resources provinces, with a diverse range of minerals and its position as a world leader in its capacity to identify, develop and extract deposits.

The mining industry is also highlighted in the Government’s 2020-21 Investment and Trade Plan, with a series of priority initiatives listed to grow the industry.

The initiatives include continuing the Exploration Incentive Scheme, streamlining WA’s mining and environmental approvals process, showcasing the WA mining sector, promoting the WA METS and PETS capabilities, and facilitating the LNG Jobs Taskforce.

Earlier this year, WA Premier Mark McGowan announced an investment of more than $1.6 million in reducing application wait times for key environmental, mining and heritage approvals, in line with the initiatives highlighted in the Investment and Trade Plan.

The funding aims to assist at least 17 projects currently seeking regulatory approval, potentially creating more than 18,000 construction jobs and more than 4,500 operational jobs.

According to the announcement, resource market trends, such as the expansion of the gold and iron ore sectors due to high commodity prices, and WA’s reputation as an attractive and safe destination for resource investment, are driving the surge in applications.

Mr McGowan said the WA Government is focused on ensuring the projects are not delayed so they can create jobs and support the economy while maintaining high environmental and heritage standards.

“Our resources sector is the engine room of the nation, and it’s crucial we support the sector to continue our recovery and create jobs and training opportunities for Western Australians,” he said.

“As an attractive and safe destination for resource investment before, during and after the COVID-19 pandemic, it is expected that the number of applications for major projects will only continue to increase into the foreseeable future.

“We know from listening to industry stakeholders that making sure our regulatory authorities have the ability to process applications consistently and efficiently is key to unlocking the economic benefits major projects can deliver for Western Australians.”