Western Australia risks missing the next wave of global resource investment unless it moves beyond its traditional \u201cdig and ship\u201d model, a major new report has found.<\/p>\n\n\n\n
New analysis from the Bankwest Curtin Economics Centre<\/a> (BCEC) \u201cWA\u2019s Resources Sector in Transition\" report, finds the resources sector still underpins the State\u2019s economy, contributing $200 billion each year and driving jobs, exports and government revenue.<\/p>\n\n\n\n But the report warns the conditions that have delivered decades of prosperity are rapidly shifting, with decarbonisation, technological change and intensifying global competition reshaping resource markets and that the next phase of growth will be driven by value not volume.<\/p>\n\n\n\n Report co-author and BCEC Director Professor Alan Duncan<\/a> said Western Australia was entering a pivotal period and without a deliberate shift towards higher-value industries, processing and innovation, it risks being outpaced.<\/p>\n\n\n\n \u201cFor decades, our prosperity has been built on extracting and exporting resources,\u201d Professor Duncan said.<\/p>\n\n\n\n \u201cThat model has served Western Australia incredibly well, but the next chapter will look different.<\/p>\n\n\n\n \u201cThe big question is not whether we have the resources. It's whether we can create more jobs, more industries and more long-term value from them before they leave our shores.\u201d<\/p>\n\n\n\n The report found iron ore remains a cornerstone of WA\u2019s economy, generating around $126 billion in economic output and accounting for more than 80 per cent of WA's royalty revenue - but will account for a declining share in output over time.<\/p>\n\n\n\n At the same time, demand for critical minerals needed for batteries, electric vehicles, renewable energy and emerging technologies is expected to grow strongly over coming decades.<\/p>\n\n\n\n Report co-author Dr Silvia Salazar<\/a> said WA had a rare opportunity to build on its existing strengths, if it acts now.<\/p>\n\n\n\n Under future scenarios modelled in the report, critical minerals, processing and other value-added industries could generate more than $100 billion a year by 2050 \u2013 a fivefold increase from around $20 billion today, she said.<\/p>\n\n\n\n At the same time, fossil fuel exports decline from around $39 billion in 2025 to approximately $11 billion by 2050 under the accelerated scenario.<\/p>\n\n\n\n \u201cWe have the minerals, the expertise and the global reputation to be a leader in the industries emerging from the global energy transition,\u201d Dr Salazar said. \u201cOther countries are competing hard for the same opportunities, and if we want to capture a larger share of global demand we will need the right energy, infrastructure, skills and investment settings in place.\u201d<\/p>\n\n\n\n Mining and petroleum royalties delivered almost $10 billion to the WA Government last year, around one-fifth of total State revenue.<\/p>\n\n\n\n Professor Duncan said that level of reliance highlights the need for coordinated action across government, industry and the community to capture the full benefits of the transition and secure long-term prosperity for future generations.<\/p>\n\n\n\n \u201cWA earned almost $10 billion last year from finite resources and that prompts an important question: what are we leaving behind for future generations?\u201d he said.<\/p>\n\n\n\n \u201cResource wealth has helped build our hospitals, schools, roads and public services. But these resources won't last forever.\u201d<\/p>\n\n\n\n The report also examines a range of alternative fiscal settings, including royalty reform, changes to resource taxation arrangements and a hypothetical public equity stake in a major LNG development.<\/p>\n\n\n\n The modelling finds that relatively modest changes to fiscal settings can generate billions of dollars in additional public revenues.<\/p>\n\n\n\n For example, the approval of the Browse LNG project could generate tens of billions of dollars in additional state and Commonwealth revenues between now and 2050, while alternative royalty structures can materially alter the timing and distribution of those returns.<\/p>\n\n\n\n The report also finds that a hypothetical 30 per cent public equity stake in a new $50 billion LNG project could create a long-term revenue stream extending well beyond the productive life of the resource if returns were invested through a future fund model.<\/p>\n\n\n\n \"One of the key lessons from the report is that policy settings matter,\" Professor Duncan said.<\/p>\n\n\n\n \"The difference between one fiscal arrangement and another can amount to billions of dollars over the life of a project.<\/p>\n\n\n\n \u201cThe challenge is making sure today's mining wealth becomes tomorrow's industries, jobs and fiscal value.<\/p>\n\n\n\n \u201cEvery tonne we extract should help build a stronger future for Western Australia.\u201d<\/p>\n\n\n\n The report outlines a series of policy priorities to support a successful transition, including moving further up the value chain, investing in enabling infrastructure, strengthening innovation and productivity and building globally competitive industries linked to the energy transition.<\/p>\n\n\n\n ENDS.<\/p>\n\n\n\n WA\u2019s resources sector in transition: Key Findings:<\/strong><\/p>\n\n\n\n \u2022$200 billion engine of the WA economy \u2013 almost half of all economic activity: <\/strong><\/p>\n\n\n\n The resources sector contributes close to $200 billion each year, underpinning jobs, exports and government revenue.<\/p>\n\n\n\n Iron ore generates around $126 billion in output and more than 80 per cent of WA\u2019s royalty revenue, highlighting exposure to a single commodity. Four in every five export dollars earned by Western Australia come from trade with China.<\/p>\n\n\n\n The sector supports around 700,000 jobs nationally and generates approximately $241 billion in economic activity across Australia. Resource companies contribute almost 40% of total company tax revenue.<\/p>\n\n\n\n Critical minerals, processing and value-added industries could exceed $100 billion annually by 2050, up from around $20 billion today under an accelerated scenario. Fossil fuel exports decline from around $39 billion in 2025 to approximately $11 billion by 2050 under the accelerated scenario.<\/p>\n\n\n\n Mining and petroleum royalties delivered almost $10 billion last year, accounting for around 20 per cent of State revenue. WA\u2019s resources sector contributes a quarter of the state\u2019s payroll tax receipts. Declining output from iron ore and LNG will erode the royalty tax base under all scenarios. Higher-value processed products generate more payroll and company tax but do not fully replace lost royalty revenue.<\/p>\n\n\n\n Fiscal policy settings can materially alter long-term public value capture, with differences measured in billions of dollars over the life of major projects. Alternative royalty structures can maintain revenues without discouraging downstream processing. Modest royalty rate changes can generate billions of dollars in additional long-term revenue. New projects such as Browse will have a consequential effect on future state and commonwealth revenue security. Small policy changes today can have billion-dollar consequences tomorrow.<\/p>\n\n\n\n The next phase of prosperity will depend on capturing more value from resources through processing and downstream industries.<\/p>\n\n\n\n \u2022Capture more value in WA<\/strong>:<\/p>\n\n\n\n Expand processing and downstream industries to lift jobs and long-term returns.<\/p>\n\n\n\n <\/p>\n\n\n\n \u2022Invest in enabling infrastructure<\/strong>:<\/p>\n\n\n\n Strengthen energy, transport and industrial systems to unlock new industries.<\/p>\n\n\n\n <\/p>\n\n\n\n \u2022Compete for global investment<\/strong>:<\/p>\n\n\n\n Position WA as a leading destination for capital in critical minerals and low-emissions industries.<\/p>\n\n\n\n <\/p>\n\n\n\n \u2022Lift skills, productivity and innovation<\/strong>:<\/p>\n\n\n\n Build workforce capability and accelerate technology adoption.<\/p>\n\n\n\n <\/p>\n\n\n\n \u2022Plan for changing revenue streams<\/strong>:<\/p>\n\n\n\n Prepare for shifts in royalties and taxes as the commodity mix evolves. \u2022Turn resource wealth into lasting public value<\/strong>:<\/p>\n\n\n\n Convert finite resources into enduring economic and social outcomes for future generations.<\/p>\n\n\n\n <\/p>\n\n\n\n Background:<\/strong><\/p>\n\n\n\n The Bankwest Curtin Economics Centre is an independent economic and social research organisation located within the Curtin Business School at Â鶹ֱ²¥. The Centre was established in 2012 through the generous support of Bankwest, a division of Commonwealth Bank of Australia.<\/p>\n","post_title":"WA's $10 billion question: are we capturing enough value from our resources?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"was-10-billion-question-are-we-capturing-enough-value-from-our-resources","to_ping":"","pinged":"","post_modified":"2026-06-24 10:58:40","post_modified_gmt":"2026-06-24 02:58:40","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.curtin.edu.au\/news\/?post_type=media-release&p=31409","menu_order":0,"post_type":"media-release","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":31404,"post_author":"4307","post_date":"2026-06-24 06:30:00","post_date_gmt":"2026-06-23 22:30:00","post_content":"\n Â鶹ֱ²¥ researchers have determined the most precise age yet for the oldest known impact crater on Earth, providing new insight into how meteorite strikes shaped the planet during its earliest history.<\/p>\n\n\n\n The team from Curtin\u2019s School of Earth and Planetary Sciences<\/a> and the Geological Survey of Western Australia<\/a> (GSWA) investigated rock formations at the North Pole Dome<\/a> in the Pilbara region of Western Australia, a site long debated as an ancient asteroid impact structure.<\/p>\n\n\n\n Using advanced mineral dating techniques, the researchers have now identified the clearest evidence yet that the impact occurred around 3 billion years ago.<\/p>\n\n\n\n Lead author Professor Chris Kirkland<\/a>, from the Timescales of Minerals Systems Group<\/a> within Curtin\u2019s School of Earth and Planetary Sciences<\/a>, said the findings help resolve a longstanding question about the timing of the impact.<\/p>\n\n\n\n \u201cWhile the site had previously been identified<\/a> as an ancient impact structure, its exact age remained uncertain,\u201d Professor Kirkland said.<\/p>\n\n\n\n \u201cThe impact left a \u2018mineral clock\u2019 behind. By dating minerals that were remade or newly grown in the damaged rocks, we can now pin down when this extraordinary event happened.<\/p>\n\n\n\n \u201cThe key evidence comes from zircon, a tiny but extraordinarily resilient mineral that can keep geological time for billions of years. Some zircons at North Pole Dome have unusual branching, skeletal shapes. We interpret these as impact-modified crystals, formed when older zircon was disrupted, partly recrystallised, and in places regrown during the intense heating caused by the impact.<\/p>\n\n\n\n \u201cThese zircon crystals record an event at about 3 billion years ago, which we believe is the best estimate for the impact.\u201d<\/p>\n\n\n\n Professor Kirkland said to confirm the result, the team analysed a second mineral, apatite, which formed as hot fluids moved through the shock-damaged rocks. This independent dating method produced the same age.<\/p>\n\n\n\n \u201cThe agreement between two different mineral systems gives us confidence that we are seeing the signature of a single major event \u2014 a meteorite impact,\u201d Professor Kirkland said.<\/p>\n\n\n\n \u201cThe new age places the North Pole Dome structure as Earth\u2019s oldest known impact crater and the only recognised example from the Archean eon, a time when the planet\u2019s earliest continents were forming.<\/p>\n\n\n\n \u201cAncient impact craters are incredibly difficult to date because over billions of years, rocks are altered by heat, pressure and fluids, which can obscure or reset the original impact signals. What we\u2019ve been able to do here is separate the moment of impact from its long geological history.<\/p>\n\n\n\n \u201cThis discovery pushes Earth\u2019s impact record deeper into geological time than any previously well-dated crater, offering a rare glimpse of the violent processes that shaped the early Earth.\u201d<\/p>\n\n\n\n GSWA Director of Geoscience Dr Simon Johnson said the results of the research were truly exceptional.<\/p>\n\n\n\n \u201cCollaborations of this calibre are vital to unlocking the rich, complex geological story of our State and driving new scientific discovery,\u201d Dr Johnson said.<\/p>\n\n\n\n The study \u2018How old is the North Pole Dome impact, Western Australia?\u2019 <\/em>was published in Geology<\/em> and can be found online here: https:\/\/doi.org\/10.1130\/G54866.1<\/a><\/p>\n","post_title":"Oldest known asteroid impact on Earth precisely dated to 3 billion years","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"oldest-known-asteroid-impact-on-earth-precisely-dated-to-3-billion-years","to_ping":"","pinged":"","post_modified":"2026-06-24 13:18:51","post_modified_gmt":"2026-06-24 05:18:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.curtin.edu.au\/news\/?post_type=media-release&p=31404","menu_order":0,"post_type":"media-release","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":31420,"post_author":"4493","post_date":"2026-06-23 11:00:04","post_date_gmt":"2026-06-23 03:00:04","post_content":"\n Â鶹ֱ²¥ researchers will examine the \u2018partygoing\u2019 behaviours of young people in regional areas, the use of nicotine pouches and ways to promote physical activity among young people as part of new projects funded by Healthway.<\/p>\n\n\n\n The three projects explore youth health issues in Western Australia with each project designed to produce practical evidence to guide prevention, policy and health promotion across the State.<\/p>\n\n\n\n Curtin Deputy Vice-Chancellor, Research Professor Melinda Fitzgerald<\/a> said the projects would address some of the most pressing issues facing young people in WA.<\/p>\n\n\n\n \u201cThese projects demonstrate Curtin\u2019s strong commitment to research that responds to real community needs, generating evidence that can inform better health outcomes for young people across WA,\u201d Professor Fitzgerald said.<\/p>\n\n\n\n Among the funding recipients is Professor Nyanda McBride<\/a>, from the National Drug Research Institute<\/a>, who has received nearly $100,000 for a project which will examine alcohol and other drug use, mental health and sexual health among \u2018partygoing\u2019 young people in regional WA. <\/p>\n\n\n\n Professor McBride said rural Australians aged 18 to 24 years were especially vulnerable to alcohol and other drug-related harm, with the highest alcohol use, greatest single-occasion drinking risk and greatest likelihood of illicit drug use, compounded by socioeconomic and cultural health inequalities.<\/p>\n\n\n\n \u201cI live in rural WA so have seen firsthand the harms associated with youth alcohol and other drug use in my community, and these have a whole-of-community impact that cannot be understated,\u201d Professor McBride said.<\/p>\n\n\n\n \u201cOur study will provide in-depth understandings about factors that contribute to young people in the regions being more likely to partake in riskier activities compared to their metropolitan counterparts, and why they might be more at risk of harm generally.\u201d<\/p>\n\n\n\n Associate Professor Katharina Wolf<\/a>, from Curtin Business School<\/a>, will investigate the availability, composition and youth appeal of nicotine pouches<\/a> in WA thanks to the funding.<\/p>\n\n\n\n Associate Professor Wolf said there was currently no WA-specific data on nicotine pouches despite growing anecdotal evidence the products were becoming more visible, accessible and appealing to young people.<\/p>\n\n\n\n \u201cWe have already seen with vaping how quickly a novel nicotine product can become normalised among young people when education, regulation and public awareness do not keep pace,\u201d she said.<\/p>\n\n\n\n \u201cNicotine pouches have the potential to follow a similar trajectory, particularly because they are discreet, flavoured and often promoted through youth-oriented digital and social media content. This project will map where nicotine pouches are sold, test what they contain, and explore young people\u2019s awareness and experiences to build an important first snapshot of their use and availability in WA.\u201d<\/p>\n\n\n\n Senior Research Fellow Dr Hamsini Sivaramakrishnan<\/a>, from the Curtin enAble Institute<\/a>, has received nearly $100,000 to co-design practical, action-ready messages to encourage physical activity among young people across WA.<\/p>\n\n\n\n Dr Sivaramakrishnan said physical activity campaigns often focused on long-term health benefits, such as lowering chronic disease risk, which could feel abstract and remote for young people.<\/p>\n\n\n\n \u201cBy working with young people to understand what resonates and involving them in developing new messaging, this project aims to make future health promotion relevant, inclusive and grounded in lived experience,\u201d she said.<\/p>\n\n\n\n \u201cUltimately, we want young people in WA to feel like physical activity is something that's genuinely for them, relevant to their lives, their mental wellbeing, and their social world.\u201d <\/p>\n\n\n\n Healthway CEO Colin Smith said Healthway aimed to back collaborative research that drives real change.<\/p>\n\n\n\n \u201cThese projects will translate research into real-world impact, strengthening communities and supporting active, healthy lifestyles, especially for young people,\u201d Mr Smith said.<\/p>\n\n\n\n
\u201cBut success isn't guaranteed.<\/p>\n\n\n\n
\u2022Strength concentrated in iron ore and China<\/strong>:<\/p>\n\n\n\n
\u2022National economic footprint <\/strong><\/p>\n\n\n\n
\u2022$100 billion growth opportunity by 2050<\/strong>: <\/p>\n\n\n\n
\u2022Revenue reliance remains high<\/strong>:<\/p>\n\n\n\n
\u2022Policy Settings<\/strong>:<\/p>\n\n\n\n
\u2022Future growth will be driven by value, not volume<\/strong>: <\/p>\n\n\n\n
WA\u2019s resources sector in transition: Key Recommendations:<\/strong><\/p>\n\n\n\n
<\/p>\n\n\n\n