WA iron-ore output at record, gold production steady
PERTH (miningweekly.com) – Western Australia has recorded record iron-ore production during the three months to September, and managed to keep gold production steady, despite the weaker price of the yellow metal, the Chamber of Minerals and Energy (CME) reported on Friday.
In its December edition of the ‘Western Australian Resources and Economics’ report, CME CEO Reg Howard-Smith pointed out that iron-ore production rose by 3.8% to 152-million tonnes, exceeding the highest quarterly production record, which was set in the June quarter of 2013.
Gold production in the state increased by 1.1% over the previous quarter. Nickel production declined 2.3% during the quarter, reflecting the current weak price.
“This quarter we observed modest growth nationally, with increases in gross domestic product at 0.6%, with mining production (including oil and gas) increasing 2.7%, while nonmining sectors of the economy grew only 0.2%,” said Howard-Smith.
The prices for all major commodities also increased during the quarter, except for uranium.
“The report is a timely reminder to all, that the health of the national economy remains reliant on the continued growth of the resources sector.”
However, Western Australia saw a 6.2% fall in total resources exploration spending in the September quarter, Howard-Smith pointed out.
“Unlike previous quarters the decline in expenditure was driven by a decrease in petroleum exploration, which fell by 10.6%,” he reported.
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