West Australia: operating in a mining dependent state
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Transcript of West Australia: operating in a mining dependent state
GLOBAL RESOURCESINVESTMENT CONFERENCE
STATIONERS’ HALL, CITY OF LONDON ● TUESDAY-WEDNESDAY, 27-28 SEP 2011
www.ObjectiveCapitalConferences.com
West Australia: operating in a mining dependent state Sturat Russell – Gov’t of West Autralia
Other sponsors & participating organisations:
GLOBAL RESOURCESINVESTMENT CONFERENCE 2011
Lead sponsor:
Media partners:
@Objectivelive
Government of Western Australia Department of State Development
Western Australia: Operating in a
Mining Dependent State
Global Mining Investment ConferenceLondon, 27 September 2011
Government of Western Australia Department of State Development
• 2.5 million square kilometres, or one third of the continent
• 2.2 million population, or 10% of the nation
• Resource abundance: minerals, energy, agriculture
• Relaxed lifestyle and quality infrastructure, education and health
• Gateway to Asia, or 60% of the world’s population
About Western Australia
Government of Western Australia Department of State Development
Western Australian Projects Pipeline
Project Value Employment (estimated A$m) Construction Permanent
Alumina BHP Billiton Worsley Alumina - Refinery Expansion 2500 1500 2000
Sub Total 2500 1500 200Iron and Steel
Asia Iron - Extension Hill Magnetite Mine 2000 1000 350Asustralian Premium Iron Joint Venture - Iron Ore Mine 4000 2000 700
BHP Billiton Iron Ore Rapid Growth Project 54800 3500 n/a
BHP Billiton Iron Ore Rapid Growth Project 6 n/a n/a n/aCITIC Pacific - Cape Preston Mine and Processing Projects 5200 400 500
Cliffs Asia Pacific Iron Ore - Koolyanobbing Iron Ore Upgrade 320 n/a n/aCrosslands Resources - Jack Hills Stage 2 Hematite Mine 2000 450 350
Fortescue Metals Group - Central Pilbara Project (Solomon Stage 2 and Western Hub) 7000 4800 2650
Fortescue Metals Group - Mine, Rail and Ports Project n/a 2500 3200Fortescue Metals Group - Solomon Project 4000 1000 3000
Grange Resources - Southdown Magnetite Mine 1700 2000 600Hancock Prospecting - Iron Ore Mine - Roy Hill 7000 1500 500
Karara Iron Ore Project 1975 1500 500MCC Cape Lambert Iron Ore Project 3700 3000 1000
Sinosteel Midwest Corporation - Weld Range Hematite Mine 1000 1000 500Sub Total 44,695 24,750 14,100
Nickel/Cobalt Ravensthorpe Nickel Operation 190 200 500
Sub Total 190 200 500
Oil, Gas and Condensate
Apache - Devil Creek Project 800 200 20
BHP - Macedon 1000 300 n/a
Browse LNG Precinct 30,000 6000 400
Chevron - Wheatstone LNG 23,000 5000 400
Gorgon Joint Venture Gas Prcessing Project 43,000 3500 300
North Rankin Redevelopment 5,000 n/a n/a
Woodside - Pluto LNG Plant 14,000 4000 300
Woodside Energy - Cossack Wanaea Lambert Hermes (CWLH) Redevelopment Project 1,800 n/a n/a
Sub Total 118,600 19,000 1420
Other
AngloGold Ashanti/Independence Group - Tropicana Gold Project700 700 400
BHP Billiton - Yeelirrie Uranium n/a 700 300
Burrup Nitrates ammonium nitrate 600 600 65
Oakajee Port, Rail and Industrial Estate 4000 2000 300
Ord East Kimberley Expansion Project 415 483 n/a
Perdaman Chemicals and Fertilisers - Collie - Coal-to-Urea Plant3500 1500 200
Windimurra Vanadium Project - Vanadium Pentoxide Mine and Processing Plant 500 350 120
Sub Total 9715 6333 1385
TOTAL 175,700 51,783 17,605
Government of Western Australia Department of State Development
World Leader in Minerals and Energy Production and Investment (2010)
• Value of committed mineral and petroleum projects: A$107 billion
• Value of planned mineral and petroleum projects: A$194 billion
• Value of mineral and petroleum industry: A$91.6 billion
• Value of mineral exploration: A$1.4 billion (57% of nation’s total)
• Western Australia was ranked #17 in the Fraser Institute Survey
Government of Western Australia Department of State Development
World Leader in Minerals and EnergyMarket Share (2010)
Zircon
Salt
Rutile
Nickel
LNG
Iron ore
Ilmenite
Gold
Garnet
Diamonds
Alumina
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
SELECTED WA COMMODITIES RELATIVE TO WORLD PRODUCTION ENDING 2010,
BY QUANTITY
Western Australia Rest of Australia
Source: DMP, ABARE and USGS
Western Australia’s resource
production is both world scale and world class
Government of Western Australia Department of State Development
Western Australia’s Top Ten Export Destinations (2010-11)
China Japan South Ko-rea
India Thailand UK Singapore Taiwan USA Indonesia0
10
20
30
40
50
$A billions
Government of Western Australia Department of State Development
Geopolitical Trends
• Proximity to the Asian Economic Miracle- China, India, Japan, Korea, Singapore, Indonesia, Malaysia, Vietnam,
Thailand- Driving iron ore, LNG, coal exports
• Response to Mineral Hegemony- Rare earths (FIRB decision on Lynas Corporation)- Lithium, tantalum, titanium, uranium developments
• Western Australian Leadership in Global Exploration- Africa (146 Western Australian companies)- Central Asia- Latin America
• Western Australia: Driving Innovation in Resource Sector- Global Resource Hub- Rio, FMG
Government of Western Australia Department of State Development
Exploration Incentive Scheme Assists Explorers
An $80 million package that provides:
• A drilling subsidy to innovative explorers
• A stimulus for applied research relevant to exploration
• Complete coverage of WA by 400 metre line spacing airborne magnetic and radiometric surveys
• Major gravity surveys and deep seismic lines
• New online systems for industry to lodge applications relating to mineral titles and track their progress through approvals processes
Government of Western Australia Department of State Development
Western Australia: Driving the Nation’s Growth
Government of Western Australia Department of State Development
Infrastructure: Existing Ports in Western Australia
• 8 major ports – State owned and operated
• All vital nodes in global supply chain logistics
• Port Hedland world’s largest bulk commodity port by volume
• All ports are planning major expansion
• Maritime transport carries 99% of Australian trade by volume
Site for proposed Oakajee
Port
Government of Western Australia Department of State Development
Infrastructure: Oakajee Port, Rail and Industrial Estate: A$10 Billion+ Project
“the single most important project for Western Australia’s economic development over the
next 50 years”
Premier Barnett, March 2009
Government of Western Australia Department of State Development
Infrastructure: Anketell and Ashburton North
Anketell Port and Ashburton North are major new port and transport corridors with strategic industrial estates
Anketell: a multi-user, multi-commodity, deepwater port and associated strategic industrial area to export predominantly iron ore from the Pilbara
Ashburton: a multi-user port and strategic industrial area will accommodate LNG, hydrocarbon based processing and natural gas processing
Anketell
Ashburton North
●
●
Government of Western Australia Department of State Development
Recent key actions by the Government of Western Australia:
• Restructured the public service to improve resource project coordination
- Departments of Mines & Petroleum and State Development
• Streamlined development approval processes
• Targeted major resource projects and related infrastructure- Oakajee, Browse, Pilbara Cities
• Overturned legislation that prevented uranium mining
• Introduced $80 million Exploration Incentive Scheme
• Review of local content policies in the resource sector
• Opposition to the Federal Government’s MRRT and Carbon Tax
Investor-Friendly Government
Government of Western Australia Department of State Development
The Rise and Rise of Perth
An Australian Ascendancy• New company establishment exceeds Sydney, Melbourne and Brisbane• City with the most Initial Public Offerings (IPO’s) in Australia• More than 12 corporations with market value >$1 billion (Woodside, Wesfarmers, FMG
A Global Resource Magnet• Alcoa, BHP Billiton, Rio Tinto, Newmont, Citic Pacific, Glencore, First Quantum, Barrick Gold• Shell, Chevron, ExxonMobil, ConocoPhillips, ENI, Total• GE Oil & Gas, IBM, BAE, Halliburton, SGS, Fenner Dunlop, Sandvik, Mitsubishi• Norton Rose, Clifford Chance, Allen and Overy, Bristow
Location• Gateway to Asia (same time zone as 60% of global population)• Gateway to Indian Ocean Rim (ASEAN, India, Middle East, Africa)• Global centre for one of the world’s most diversified resource jurisdictions• Only Australian city connected to UK/Europe during business hours• Destination for 195 international flights per week
Government of Western Australia Department of State Development
The Rise and Rise of Perth contd...
Expertise• Home to the largest single concentration of global mining companies• Significant active presence in Australasia, UK/Europe, Asia, Africa, the Americas• CSIRO national research centres for Minerals and Petroleum• Five internationally focussed universities (education, training, R&D)• Cross fertilisation of ideas and projects across our global mining and energy sectors• Ranked #17 of 79 global jurisdictions in the Fraser Institute Annual Survey of Mining Companies
Lifestyle• Ranked #8 of 140 cities in the Economist Intelligence Unit Liveability Survey• Ranked #21 of 221 cities in the Mercer Quality of Living Survey• Confidence: business investment increasing by 17.5% per annum• Lonely Planet included South West in top ten regions to visit in 2009/10• UN global ‘hot spot’ for South West flora and fauna• Best premium wines and beaches in the world
Government of Western Australia Department of State Development
Where to From Here?
Obtain information on opportunities in Western Australia by:
• Joining in various conferences & exhibitions
8th International Heavy Minerals ConferencePerth, 5-6 October 2011 (http://www.ausimm.com.au)
AJM’s 15th Annual Global Iron Ore and Steel Forecast ConferencePan Pacific Perth, 20-21 March 2012 (www.globalironore.com.au)
Narrow Vein Mining ConferencePerth, 26-27 March 2012 (http://www.ausimm.com.au)
• Visiting Perth independently or as part of a Business Mission
• Follow up with our London and Perth offices
Government of Western Australia Department of State Development
Contact Details
Stuart RussellSenior Trade & Investment ManagerGovernment of Western Australia
European Office5th Floor, Australia Centre
Corner of Strand and Melbourne Place
London WC2B 4LG – United Kingdom
Tel: +44 20 7395 0564
Fax: +44 20 7240 6637
Email: [email protected]
Web: www.wago.co.uk
______________________________________________
David McCullochDepartment of State Development
Tel: +61 8 9222 0496 [email protected]
www.dsd.wa.gov.au