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Sustainability Report 2015 51
ECONOMIC IMPACT
The resources industry in general has served
Australia well. It has underpinned, until recently, a
boom in the economy. Western Australia has seen
major economic growth, particularly in Perth, and
throughout regional centres and within industries
that service the mining industry.
For FY2014 the Government of Western Australia reported that
the total output of the Western Australian minerals industry
was $86.5 billion. The value of IGO’s products in FY2015,
including Tropicana was approximately $491 million. Similarly for
FY2014, the total expenditure for mineral exploration in Western
Australia was about $1 billion
( www.dmp.wa.gov.au/7846.aspx).
IGO’s expenditure on exploration in 2014 was $43.6 million and
in 2015 it was $37.7 million.
In 2014, gold was the second most valuable mineral sector in
WA after iron ore, with total sales of $8.7 billion, representing
10% of the mineral sector’s total sales. The quantity sold by the
WA gold industry rose from 6.6 million ounces in 2013 to 6.8
million ounces, a 3% increase. IGO gold sales were valued at
$147 million in 2014 and $228 million in FY2015.
In 2014, nickel was Western Australia’s fourth most valuable
sector of the mining industry (
www.dmp.wa.gov.au ). Although
the quantity of nickel sales fell by 15% to 195,000 tonnes, the
total value increased by 6%, from $3.4 billion in 2013 to $3.6
billion. IGO nickel sales were valued at $117 million in 2014 and
$105 million in FY2015.
CREATING OPPORTUNITY
“Individual mines come and go, but
our industry creates opportunities
for people and supports
communities in many ways.”
Josh Shinn
Safety Representative
Underground Bogger Operator
Jaguar Operation
ECONOMIC IMPACT