With the region in the grip of a multi-million dollar investment boom, and its full potential unlikely to be realised for a number of decades, it is vital to plan carefully for the future.
Boasting some of the world’s largest deposits of iron ore and other mineral riches including base metals, gold and salt; world class reserves of off shore oil and gas; and its close proximity to the fast growing export markets in Asia makes the Pilbara quite unique.
Rather than merely churning out hundreds of tonnes of raw materials and immediately shipping them overseas, development of exportable value added products provides a possible solution. A stronger secondary and tertiary industry sector will create many new job opportunities, thereby adding to the wealth and long term security of the region.
Development of a multi-million dollar processing plant on the Burrup Peninsula has resulted in the export of liquefied natural gas (LNG). This high value added product is in increasing demand from key Asian markets. Construction of the $440 million Goldfields Gas Pipeline will transport north west shelf gas from the Pilbara to major mining operations in the Eastern Goldfields.
Development of this cheap energy source also creates opportunities for downstream processing operations to establish. As iron ore currently generates $2.5 billion worth of exports annually and oil and gas $3.1 billion, these remain the region’s major industries. However, with gold providing an extra $224 million, salt $102 million, the pastoral industry $20 million and tourism around $80 million, diversity is already present.
With numerous multi million dollar projects being considered for the expansion of current mineral extraction, and a recent proposal for a $1.5 billion petrochemical complex using ethene from the North West Shelf, long term prosperity and growth seem assured.
Though all proposed new investments are unlikely to become a reality, there is no doubt the Pilbara is well positioned for a sustained period of steadily intensifying economic activity well into the next century.
The Pilbara Councils are well aware of their role in working with key players, including the Pilbara Development Commission, State Government and private sector companies, to carefully plan and manage this growth ensuring all sectors of the community reap the many benefits.
