The Western Australian Government’s 2011-12 Mineral and Petroleum Statistics Digest has been released showing that WA returned resources sales of $106 billion during the year.

Mineral exploration expenditure increased to an all-time record of $2.1 billion - a jump of 32 per cent from 2010-11 and 150 per cent from five years ago.

Mines and Petroleum Minister Norman Moore said iron ore remained the State’s most valuable sector with $61.1billion in sales, while petroleum delivered $23.8billion and gold $9.3billion. Other highlights of 2011-12 included mineral and petroleum exports accounting for 91 per cent of the State’s merchandise exports earnings.

$5.3billion paid in royalties was paid to the State Government in 2011-12.

In 2011-12,  WAnhosted 65 operational oil and gas fields and 975 operating mines, producing more than 50 different minerals.

Mr Moore said one of the Government’s major aims is to attract investment through initiatives such as the Exploration Incentive Scheme’s Co-Funded Drilling Program, supported by the Royalties for Regions program, which covers up to 50 per cent of successful candidates’ drilling costs.

“The State Government also approved the average mine in a 28-month time period in the past four years, which is definitely helping projects get off the ground," Mr Moore said.

The 2011-12 Mineral and Petroleum Statistics Digest is at http://www.dmp.wa.gov.au/1088.aspx