The department’s 2014-15 Annual Report showed the resources sector continued to be the most significant economic contributor to the State.
|Date:||Friday, 25 September 2015|
The Department of Mines and Petroleum released its 2014-15 Annual Report this week which highlighted its commitment to ensuring the State’s resources sector is developed and managed responsibly and sustainably for the benefit of all Western Australians.
DMP Director General Richard Sellers said the safe, sustainable and responsible management of Western Australia’s mineral and energy resources continues to be a priority for the department.
“This is why it is so important that we have clear, consistent and transparent regulations and assessment processes that offer certainty for industry and the community around what is required to develop our mineral and energy resources.
“It is also why the department is committed to innovation in assessment processes, regulation and community education.”
Mr Sellers said an important focus for 2014-15 was the continued strengthening of safety and environmental compliance.
“The department’s recent environmental and safety reforms have increased the department’s regulatory expertise and agility,” Mr Sellers said.
“This will help ensure the department has the capacity and capability to respond to changes in the future.”
The report also highlighted the challenging economic conditions facing the State’s resources sector.
“The past 12 months have been particularly challenging for smaller miners operating in Western Australia,” Mr Sellers said.
“This is why the department worked with the State Government in providing assistance through the Magnetite Financial Assistance Program and the Iron Ore Financial Assistance Program.
“These programs provide temporary assistance to small miners, as they restructured their operations in challenging market conditions.”
Despite the challenging economic conditions, the report also highlighted the growth that has occurred over the past decade.
“Despite the annual decline, the total value of production remained high, growing from $43.2 billion (2005-06) to $99.5 billion (2014-15) in the last 10 years, a trend that was also reflected in the total grants and royalties collected in WA,” Mr Sellers said.
“The report also showed that despite lower commodity prices, particularly iron ore, the resources sector saw $5.9 billion in royalties returned to the WA community and employment of more than 100,000 people during 2014-15.”
The Department of Mines and Petroleum 2014-15 Annual Report, released in parliament by Minister for Mines and Petroleum Bill Marmion this week, is available to download from the DMP website.
The Department of Mines and Petroleum 2014-15 Annual Report has been released.