Read up on Rio Tinto’s new iron ore mine set to create 600 jobs in WA, a planned $1.5 billion upgrade for Perth Airport to meet expected future demand, and a full-time employment boost brings WA jobless rate to a year low; all in our monthly WA news brief.
Rio Tinto’s new mine to create 600 new jobs
Mining heavyweight Rio Tinto has greenlit the investment of $3.5 billion in its new Koodaideri iron ore mine to replace depleted operations elsewhere. The new project – whose construction is scheduled to commence in 2019 – will inject 600 permanent jobs into the Western Australian economy once full operation kicks off in 2021.
In addition to the mine itself, Rio Tinto will also be constructing a 166km railway line to the site, an airport, related support facilities and employee accommodation. More than 2000 people will be employed at the site during the construction phase.
Local Western Australian businesses also stand to reap big from the project with about $2.5 billion worth of business opportunities being made available. The new mine is expected to have a 43-million-tonne annual capacity and will underpin Rio’s flagship Pilbara blend iron ore.
Good video in the source article.
$1.5 billion upgrade for Perth Airport
Plans to upgrade Perth airport into a truly world class airport by 2024 have been recently revealed. The upgrade is meant to future–proof Western Australia’s aviation hub in preparation for the expected economic surge.
The proposed upgrade seeks to bring all the flight services together under one central aviation hub that will feature a new integrated terminal for domestic flights and an upgraded international terminal. The upgraded international terminal will cater to an expected 50% increase in international passenger numbers in the next 10 years.
The project – which will be implemented in two phases – will cost between $1.5 billion and $2 billion to complete. Phase one of the project is scheduled for completion by 2024 while the second phase will be delivered at a future date depending on the airport’s future needs.
WA jobless rate hits year low
The unemployment rate for Western Australia has fallen to the lowest level in a year buoyed by a sudden increase in full-time employment. According to the Australian Bureau of Statistics, unemployment levels in WA fell 0.3% to stand at 5.7% in the month of October. This is the lowest it has been since September last year.
The decrease was driven by a 10,700 jump in full-time jobs through the month reaching the highest number since 2015. Since March, the state has been able to add a total of 44,700 full-time jobs.
For comparison, the national unemployment rate stood unchanged at 5% while that of NSW, Victoria, Tasmania and Queensland stood at 4.4%, 4.5%, 5.3% and 6.3% respectively. The Australian Capital Territory (ACT) had the lowest unemployment rate at 3.7%.