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Statistics Digest 1999

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Statistics Digest 1999 Department of Minerals and Energy Western Australia Statistics Digest Mineral and Petroleum Production 1999 “Our Resources • Our People • Our Future” Corporate Policy, Planning and Services 1999STATISTICSDIGEST CONTENTS Page FOREWORD ...................................................................................................... 1 1. ECONOMIC AND SOCIAL ENVIRONMENT ...................................................... 2 1.1 Economy Review ............................................................................................... 2 1.2 Economic Factors Affecting the Mining Industry ........................................... 7 1.3 Social and Political Factors Affecting the Mining Industry ........................... 12 2. RESOURCE FOCUS 1999 ................................................................................. 18 2.1 Overview and Outlook ................................................................................... 18 2.2 Petroleum......................................................................................................... 19 2.3 Iron Ore ........................................................................................................... 23 2.4 Gold .................................................................................................................. 27 2.5 Alumina ............................................................................................................30 2.6 Nickel ............................................................................................................... 33 2.7 Heavy Mineral Sands ....................................................................................... 37 2.8 Diamonds ......................................................................................................... 39 2.9 Other Minerals ................................................................................................. 41 3. EXPLORATION, INVESTMENT AND EMPLOYMENT ..................................... 44 TABLES 1. Quantity and Value of Minerals and Petroleum ..................................................... 48 2. Quantity and Value of Selected Major Commodities ............................................. 50 3. Quantity and Value of Minerals and Petroleum By Local Government Area ........ 53 4. Royalty Receipts 1998 and 1999 ............................................................................ 59 5. Average Number of Persons Employed in the WA Minerals and Petroleum Industries ............................................................................................... 62 6. Principal Minerals and Petroleum Producers 1999 ............................................... 66 Abbreviations, References, Units and Conversion Factors................................... 70 The Statistics Digest has been compiled in good faith by the Department of Minerals and Energy from information and data gathered in the course of the Digest’s production. The Department believes information contained in this document is correct and that any opinions and conclusions are reasonably held or made as at the time of compilation. However, the Department does not warrant their accuracy and undertakes no responsibility to any person or organisation in respect of this publication. Department of Minerals and Energy 1999STATISTICSDIGEST LISTOFFIGURES Figures Page 1.1 Exchange Rate A$/US$ ................................................................................. 6 1.2 Trade Weighted Index.................................................................................11 2.1 Petroleum Exports ......................................................................................19 2.2 TAPIS Crude Oil Price ................................................................................20 2.3 Crude Oil and Condensate - Quantity and Value by Quarter ...................21 2.4 Crude Oil and Condensate Quantity .........................................................22 2.5 Iron Ore Exports.........................................................................................24 2.6 Iron Ore Price .............................................................................................25 2.7 Iron Ore - Quantity and Value by Quarter .................................................25 2.8 Iron Ore Quantity .......................................................................................26 2.9 Gold Exports ...............................................................................................27 2.10 Gold Price ...................................................................................................27 2.11 Gold - Quantity and Value by Quarter .......................................................28 2.12 Gold Production .........................................................................................29 2.13 Alumina Exports .........................................................................................31 2.14 Alumina Price..............................................................................................31 2.15 Alumina - Quantity and Value by Quarter ................................................32 2.16 Alumina Quantity........................................................................................32 2.17 Nickel Exports ............................................................................................34 2.18 Nickel Price.................................................................................................34 2.19 Nickel Metal - Quantity and Value by Quarter .........................................35 2.20 Nickel Quantity...........................................................................................36 2.21 Heavy Mineral Sands Exports ....................................................................37 2.22 Heavy Mineral Sands Price Index ..............................................................38 2.23 Heavy Mineral Sands - Value by Quarter ...................................................39 2.24 Heavy Mineral Sands Value of Production.................................................39 2.25 Selected WA Mineral Commodities Relative to World Production ..........47 0.1 5 Year Value Comparison 1994 and 1999 .................................................52 0.2 5 Year Royalty Comparison 1994 and 1999 .............................................61 0.3 Local Government Boundaries (map) .......................................................72 0.4 Major Minerals and Petroleum Projects in Western Australia ......................................................... Inside Back Cover Department of Minerals and Energy 1999STATISTICSDIGEST Department of Minerals and Energy 1999STATISTICSDIGEST Department of Minerals and Energy 1999STATISTICSDIGEST Welcome to the Department of Minerals and Energy’s 1999 Statistics Digest. FOREWORD This publication contains the most comprehensive statistical information available on the Western Australian resource industry. The statistics in this Digest show that in 1999 the total value of Western Australia’s minerals and petroleum fell by around 5% to $16.9 billion. The overwhelming reason for the negative growth in 1999 was low global commodity prices coupled with inconsistent economic conditions in major overseas markets throughout the first half of the year. The resilience of the State’s industry is shown by the fact that despite the adversities encountered in 1999, the value of minerals and petroleum has still come in at near record levels. It is also noteworthy that for the period 1990 to L C Ranford 1999 the industry achieved an average annual growth rate in value of 4%. DIRECTOR GENERAL Despite the fall in value for 1999, the latest figures indicate that the mineral and petroleum sectors remain the pillar of the State’s economy, accounting for approximately 26% of Gross State Product, 64% of its export income, half of its private capital investment and around one-sixth of its employment, both direct and indirect. It has also been pleasing to see that a number of new projects were commissioned in 1999. Such examples include the Windimurra vanadium project (Australia’s only operating vanadium mine), the three nickel laterite projects - Murrin Murrin, Bulong and Cawse, in addition to the expansion of existing facilities in the alumina and base metals sectors. I would like to make particular mention of the State’s base metals sector – specifically the quantity and value of zinc sales, which increased dramatically (by 49% and 72% respectively) in 1999 due to significantly increased production and a much stronger zinc price. Overall, such developments arose because of Western Australia’s fundamentally strong competitive position in world commodity markets. Since June 1999 the outlook for global growth has improved significantly due to better than expected economic conditions in the Asian region and strong growth in the United States. This is particularly good news for commodity prices, as long-term recovery depends on increasing demand, which in turn, depends on rising global growth. It also augurs well for projects that had development plans delayed by the Asian economic crisis. To maintain Western Australia’s position as one of the world’s prominent players in international mineral markets it is important that the State continues to build on its existing advantages. The State’s plans for further deregulation of the energy sector will assist the mining industry in taking up downstream processing opportunities. It is also important that,
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