WA Gold Industry Expected to Create More Jobs Than Iron Ore in Next Five Years

WA's gold industry is expected to create more jobs than iron ore over the next five years, with 2,400 new positions and 11 projects in the pipeline. The gold price has increased by over 50% in the past 18 months, with Australia producing 300 tonnes of gold worth about $50 billion last financial year. Iron ore remains WA's dominant industry, but gold is diversifying the economy and could potentially increase royalty receipts to the government.

The Western Australian (WA) gold industry is poised to create more jobs than iron ore over the next five years, according to recent reports. The gold sector is expected to generate 2,400 new positions, while iron ore is projected to create 1,500 new jobs Gold Fields offloads $1.1b Northern Star holding^[1]. This growth is driven by a significant increase in the gold price, which has risen by over 50% in the past 18 months, and a robust pipeline of gold projects.

Australia produced 300 tonnes of gold worth approximately $50 billion in the last financial year, highlighting the sector's economic significance. Despite iron ore remaining WA's dominant industry, gold is diversifying the economy and could potentially boost royalty receipts for the government Contango Announces Production of 17,000 ounces of Gold and $33 Million Cash Distribution from Campaign 3-2025 from the Peak Gold JV^[2].

In a recent move, South African miner Gold Fields sold a $1.1 billion stake in ASX-listed Northern Star Resources, aligning with its broader Australian consolidation strategy. This divestment simplifies Gold Fields' exposure and helps deleverage the acquisition costs tied to Gold Road Resources Gold Fields offloads $1.1b Northern Star holding^[1]. The sale underscores the strength and liquidity of major domestic producers and the appetite among global players to invest in Australia's Tier 1 mining jurisdictions.

Meanwhile, Contango ORE, Inc. announced the production of 17,000 ounces of gold and a $33 million cash distribution from its Peak Gold JV in Campaign 3-2025. The company is also planning to triple its production from 60,000 ounces annually to 200,000 gold equivalent ounces over the next five years, funded internally Contango Announces Production of 17,000 ounces of Gold and $33 Million Cash Distribution from Campaign 3-2025 from the Peak Gold JV^[2].

The WA Mining Conference, taking place from October 8–9, will provide further insights into the sector's growth and potential. Investors and financial professionals are encouraged to register for the event.