Record jobs growth in WA resources, as first seismic data is unveiled

Western Australia has experienced its seventh consecutive year of jobs growth, thanks to the State’s strong resources sector.

In FY24, the sector employed 134,871 full-time equivalent (FTE) positions, supported by mineral and petroleum sales of $238b.

The State also led the nation in exploration investment with $2.58b spent in FY24 or 62% of the national spend.

Key exploration targets included critical minerals such as lithium, rare earths (which achieved record spending levels), nickel/cobalt and copper.

WA Premier Roger Cook says the State’s economic management of the resources sector is second to none.

“We are a global investment destination of choice as we remain a reliable business partner, we maintain a robust regulatory framework and we have a long history of major mining and mineral processing successes,” he said.

“I am very pleased to see the interest in critical minerals extend from exploration to production as we are working hard to ensure WA plays a key role in decarbonising the global economy.”

More than $32b was invested in the resources sector in FY24, continuing its upwards trend in investment since mid-2019.

There are currently about $50b worth of projects committed or under construction.

WA Mines and Petroleum Minister David Michael says it is great to see more employment opportunities than ever before.

“It’s especially pleasing to see exploration spending continue its impressive run with the global demand for commodities – especially critical minerals – showing no signs of slowing down,” he said.

“The future looks particularly positive with billions of dollars worth of projects under construction or committed as we seek more downstream and midstream production activity.”

Iron ore had sales of $142b in FY24 due by higher prices and record production of 866mt.

Gold had all-time high sales of $21b in the same timeframe, driven by record prices.

Despite the market headwinds for battery minerals, lithium ($8.4b), nickel ($3.8b) and copper ($1.1b) achieved strong sales, as did alumina ($6.6b), mineral sands ($1.2b) and salt ($814m – the highest on record).

First WA Array seismic data to uncover next big discovery

The first release of seismic data collected through the ongoing WA Array project is now available for use in order to gain a better understanding of the State’s complex geology.

With a $30b investment over ten years, the WA Array data will help exploration companies target areas of high prospectivity, evaluate future competing land uses, mitigate seismic hazards and maximise the State’s opportunities in the transition to net-zero emissions.

The Geological Survey of Western Australia (GSWA) project started in 2022 and deploys 165 seismometers arranged in a grid pattern, spaced at 40km intervals.

“As one of the world’s largest and highest resolution passive seismic surveys, the WA Array will digitally transform and supercharge the State’s resources sector,” Minister Michael said.

“The freely available geoscientific data reinforces the [WA] Government’s commitment to developing future mines, attracting downstream processing and supporting even more local jobs for Western Australians.

“WA competes with many other jurisdictions to attract investment, so it’s important to keep ahead of the pack with world-leading data projects of this kind.”

Waveform data from Phase 1 in the South West of WA is now available on the national Australian Passive Seismic Server (AusPass).

While the WA Array builds on similar surveys across the rest of Australia, the project has higher density data collection that leads to more detailed images and models.