$100B BOOSTER

WA’s massive contribution to the nation thanks to booming resources sector. Treasurer Josh Frydenberg’s pre-Budget publicity blitz this month was an interview with The Sunday Times in which he praised WA’s contribution to an improved fiscal balance sheet via higher iron ore prices.Nearly $11b was contributed in State Government payments, up from $7b the previous year, with more than $24b contributed to the Federal Government, up from $18b in 2020-21.
“Our sector supports close to one in four full-time jobs in WA and at least one in 16 WA businesses have resource sector companies within their customer bases.

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Russia’s invasion of Ukraine has exploded our renewables myth

The devastating Russian invasion of Ukraine has captured global ­attention. While the world’s focus is rightly on the human toll and suffering, the crisis has highlighted the need to end reliance on Russian oil and gas. To achieve that ambition, we must be pragmatic and invest in sensible alternatives, not engage in wishful thinking about renewable energy.

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Rare and wide-ranging interview from Gina Rinehart

The most successful woman in Australia from a business sense has spoken about the importance of International Women’s Day and revealed key issues she plans to discuss with federal leaders of both major parties ahead of this year’s election. Interview by Liam Bartlett.

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BHP ships direct to Pilbara

BHP has been trialling direct shipping to Port Hedland since 2020 and will now ship 7.5 per cent of the containerised supplies it receives into its Western Australian Iron Ore (WAIO) operations from all over the world through Singapore, directly to Port Hedland. “This initiative not only improves efficiency, it also improves safety and environmental outcomes, thereby benefiting the whole community,” Dunham said.“PPA is proud of the work it has done to make direct shipping possible and has already trebled its first port of entry facilities to accommodate growing demand,” Johnston said. “The service is generating more inbound and outbound freight opportunities, which in turn creates local opportunities for container de-stuffing, warehousing, and distribution.

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Iron ore sets new export revenue record

Australian resources export revenue reached a new record high of $351 billion in 2021, according to the latest data from the Australian Bureau of Statistics. Iron ore was the highest contributing resource with $154.2 billion, up 32 per cent from 2020 to set its own record high. Minerals Council of Australia chief executive officer Tania Constable said the record growth demonstrates the importance of the mining industry to Australia’s economy.

“This incredible growth in revenue has also delivered Australia its largest ever trade surplus ($123 billion) during the COVID-19 pandemic, at a time when it needed economic stimulus the most,” Constable said. “Ongoing demand for resources is driving the 258,000 direct mining jobs, with significant benefits flowing to all of Australia and particularly regional communities.

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Australia Day honours: Billionaire patron Gina Rinehart goes from strength to strength

Hancock is one of the biggest taxpayers in Australia and has weathered the Covid pandemic. Its company profit for the year to June came after revenue for Mrs Rinehart’s Hancock rose to a record $16.6bn from $10.5bn a year earlier and the business paid a huge $2.7bn in federal corporate and state taxes. Last year was also a significant one away from mining for Mrs Rinehart, who watched strong performances by athletes in the four sports she backs at the Tokyo Olympic Games. Swimmers, rowers, beach volleyball players and artistic swimming representatives all receive direct support from Mrs Rinehart, as part of charitable and sponsorship pursuits the billionaire undertakes that also includes helping Cambodian girls out of poverty. All of the support has been recognised in this year’s Australia Day honours, with Mrs Rinehart gaining the title of Officer of the Order of Australia for distinguished service to the mining sector, to the community through philanthropic initiatives, and to sport as a patron.

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