PILBARA QUARTERLY
ECONOMIC UPDATE
Issue No 2
RDA Pilbara is proud to release Issue No 2 of the Pilbara Quarterly Economic Update.
The Pilbara economy has continued to strengthen in the 2019 September quarter. The possible capital investment over the medium term continues to rise and estimates are that it is in excess of $90 billion. In this regard critical investment decisions are anticipated in 2020 for Liquefied Natural Gas (LNG), fertiliser and iron ore.
Although during the September quarter some commodity prices have fallen, notably iron ore, no change is expected to investment or production levels.
Western Australia's mining industry has seen a boost in employment numbers that has reached new levels. The figures for the 2018/2019 period revealed in the Department of Mines, Industry Regulation and Safety's latest statistics release, highlighted a significant year for the state's mining sector. It included a period in which the average number of individuals employed in the minerals sector surged to 124, 010 up from 112, 008 in the previous year.
The following commodities are detailed in the Update:
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LNG and Renewables
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Oil
- Iron Ore
- Lithium
- Gold
- Copper
- Fertiliser
- Beef
The prospects for the economy of the Pilbara are increasingly linked to further investments in LNG and renewables. In this issue a closer look at the energy sector has been provided.
Please click here to read the second edition.
For more information regarding the Economic Update please email Diane Pentz, CEO, ceo@rdapilbara.org.au.