Resources projects in regional Western Australia are continuing to drive jobs and economic growth as confirmed in the latest export forecasts.
Resource and energy export earnings are forecast to reach a staggering $379 billion in 2021–22 with hundreds of new projects in the pipeline, including 161 in Western Australia.
The December edition of the Resources and Energy Quarterly (REQ) from the Department of Industry, Science, Energy and Resources found that high commodity prices, good volume growth and a weak Australian dollar are driving a surge in export earnings.
Federal Member for Durack, the Hon. Melissa Price said many in her electorate continue to benefit from not just the state royalties, but the jobs created by existing and new resources and energy projects.
“Projects in the pipeline could create hundreds of jobs in construction and hundreds of ongoing jobs across Durack including hydrogen, ammonia and carbon capture and storage projects,” Ms Price said.
Minister for Resources and Water Keith Pitt said that the resources sector once again has been shown to be the bedrock of the Australian economy and would strongly support the nation’s future growth.
In 2020–21 resources and energy earnings passed $300 billion for the first time, reaching $310 billion, and are now forecast to top that by $69 billion in 2021–22.
The latest Resources and Energy Quarterly and the Resources and Energy Major Projects 2021 report are available on the Department of Industry, Science, Energy and Resources website.
ENDS
Media Contact:
Rose Crane 0427 587395, Rosemea.Crane@aph.gov.au.