Today’s release of the 2019-20 Earth Resources Sector Indicators report (PDF – 1.9 MB) highlights that Victoria’s resources sector remains strong.
The outlook remains overwhelmingly positive with record quarry production, minerals exploration expenditure growth and the highest yearly gold production in over a century.
An expanding resources sector is a crucial part to delivering investment opportunities and well-paid local jobs across Victoria.
Quarry production exceeded sixty-three million tonnes of sand, rock and gravel in 2019-20 to deliver the material needed to build new homes, hospitals, schools and transport infrastructure. Over the last six years production of building raw materials has grown by twenty-five per cent.
Minerals exploration expenditure, a measure of industry confidence and a precursor to future investment, is at a record high, increasing 33 per cent from 2018-19
Gold production remains buoyant, in 2019-20 year-on-year production was up almost 40 per cent coming mainly from the world-class Fosterville deposit.
The quarry sector remains the cornerstone of Victoria’s economic development, playing an important role in supporting the state’s infrastructure and construction.