A newly released report from the Australian Bureau of Statistics (quarterly data) shows there was a 5% increase in mining investment in the quarter.
This is on top of a 2 per cent increase in the June quarter and a positive step forward for the creation of more WA jobs in the Pilbara.
5% increase in mining investment
Given the negative press and the constant moaning about the loss of WA jobs, this upward investment trend has created a new record for the industry, more than 12 months on from the days when mining was predicted to fall into a hole.
Adding to this good news about mining investment, the Bureau of Resources and Energy Economics (BREE) indicated that mining investment rose to even greater heights in October. Based on this, BREE has predicted an 8 per cent increase in iron ore exports from the major producing counties in 2013, with a staggering 20 per cent increase forecast 2013-2014.
Already the increase in output capacity has allowed iron ore exports to be swallowed up by China, with iron ore exports to China hitting an all-time high.
This is good news for the big Australian mining companies like Rio Tinto, BHP and Fortescue Metals Group.
In particular, Fortescue Metals (ASX: FMG) have been achieving incredible milestones in terms of productivity, when they achieved their expanded iron ore output target of 155 million tonnes a year.
“more WA jobs in mining”
Rio Tinto (ASX: RIO) and BHP (ASX: BHP) also have ambitious plans, which could involve the creation of more WA jobs in mining.
Not forgetting the newcomer to the iron ore market in the Pilbara, Gina Rinehart`s Hancock Prospecting which by all accounts is well placed to produce 55 million tonnes a year from the Roy Hill project, which is currently in the construction phase.
As new supply from the mining company’s expansion projects come online in the second half of 2014, industry analysts foresee iron ore prices staying relatively high, which means greater profits for the mining companies.
This outlook has been quantified, as China seems to be accelerating its restocking of iron ore owing to strong steel demand as the country keeps on developing its infrastructure.
Rumour has it that Fortescue Metals Group have been rapidly repaying some of its debt after achieving a 155 million tonne per year target.
For people looking for WA jobs with Fortescue, this sends a positive signal that more jobs could be created as the mining company considers the benefits of expanding its yearly production capacity to 355 million tonnes.
If further expansion of the Pilbara mining company’s operations are approved by the board, the decision could pave the way for a new wave of WA jobs with the company.
What to read next…
- Mining Jobs WA ““ How To Increase Your Hiring Potential
- Iron Ore Demand Increases ““ Pilbara Mining Jobs
- Tony Abbott Plans For New Mining Boom
- 500 Entry Level Mining Jobs On Offer
- Leighton $2.8 billion Pilbara mining deal
- Fortescue Metals ““ Pilbara mining jobs video
- WA Mining Jobs
Some mining courses you can do if you`re thinking of applying for mining WA jobs in mining
- Standard 11 Mining Induction (recommended)
- Dump Truck / Haul Truck Driver Course
- A Heavy Rigid (HR) licence (not essential in QLD but often seen as favourable in WA for haul truck jobs)
- Working at Heights (recommended)
- Enter and Work in Confined Spaces (recommended)
- 4WD License or Light Vehicle Course. (recommended)