29/5/03
New research has found diamonds, worth almost half a billion dollars, are proving to be the powerhouse of the Kimberley economy, Minister for the Kimberley Tom Stephens said today.
Mr Stephens said the new research also showed mining was one of four industry sectors which had continued to drive economic growth over the past two years.
Launching the Kimberley Economic Perspective booklet in Broome, Mr Stephens revealed the Kimberley region had one of Australia's fastest growing populations, with a significant proportion of regional economic activity being attributable to indigenous people.
"Mining, led by diamond production, has been supported by retail trade, tourism, and pearling as major contributors to the region's economy," the Minister said.
"In 2001-02, an estimated 28million carats of diamonds were produced, valued at $489million, accounting for 74 per cent of the value of mineral production in the Kimberley.
"This significant contribution to the region's economy is expected to continue with the Ellendale lease, acquired by the Kimberley Diamond Company, expected to export 200,000 carats of gem quality diamonds per year, at an estimated value of $100million by 2005.
"The region has also produced large quantities of zinc, lead and iron ore."
The Kimberley Economic Perspective also shows the tourism industry has continued to make a significant contribution to the regional economy.
In 2002 there were 325,000 visitors to the Kimberley.
Domestic visitor expenditure for the same year was estimated at $237million, an increase of about $34million over the previous year.
"Retail trade has also been an important contributor to the Kimberley region, with retail turnover estimated at $258.7million in 2001-02," Mr Stephens said.
"A highly valuable catch of pearls and pearl oyster shells, worth $150million, was also produced in 2001-02."
The Kimberley Economic Perspective is the first of a series of nine publications, produced by the State Government to provide key information to guide investment decisions and business development in WA's nine regions.
The Department of Local Government and Regional Development and the Regional Development Commissions jointly prepared the series.
Mr Stephens said the economic perspectives would be of interest to residents and organisations throughout the State, along with potential investors.
"They provide a statistical summary that is easy to read - using indicators such as employment levels, demographics, major industry sectors, exports, tourism and infrastructure," he said.
Copies of Kimberley Economic Perspective may be obtained from the Kimberley Development Commission's offices on 9168 1044 (Kununurra), 9193 1444 (Derby), or 9193 6795 (Broome) and on the website http://www.kdc.wa.gov.au
Minister's office: 9213 6500
