Not all 'booms' are created equal: Western Australia's next resources boom

Recently, people on St Georges Terrace (the financial hub of the Perth central business district) are starting to speak a certain 'b' word that is synonymous with Western Australia (WA). This chat is fueled by speculation that the State is on its way to experiencing a major wave of project development and investment.

Australia's three major iron ore producers have recently committed to a total of almost A$9 billion (US$6.5 billion) worth of investment on mining projects across WA's Pilbara region. Combining this with the general 'uptick' of activity surrounding existing liquefied natural gas (LNG) projects and other mineral resources ventures, approximately a further A$60 billion (US$43 billion) seems likely to also hit the WA economy.

It appears, once again, and for the third time in less than two decades, WA is poised to ride the economic wave that its unrivaled abundance of natural resources affords the State; boom![1]

The major projects that appear to be underpinning the hype and speculation are:

  • BHP South Flank
  • Rio Tinto Koodaideri Iron Ore Mine
  • FMG Eliwana Mine
  • Talison's Greenbushes Expansion
  • Mineral Resources Lithium Expansions
  • Browse LNG
  • Scarborough LNG
  • Gorgon Expansion
  • Other LNG/gas opportunities

[i]A 'boom' is a term used in local parlance to describe a significant increase in resources (mining, oil, gas, and associated/ancillary sectors) investment and output, which goes on to generate significant positive consequences for the economy.

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