Advertisement
Australia markets closed
  • ALL ORDS

    8,208.60
    +42.20 (+0.52%)
     
  • AUD/USD

    0.6623
    -0.0022 (-0.33%)
     
  • ASX 200

    7,971.10
    +39.40 (+0.50%)
     
  • OIL

    79.95
    +0.17 (+0.21%)
     
  • GOLD

    2,409.30
    +14.60 (+0.61%)
     
  • Bitcoin AUD

    100,727.91
    -1,178.78 (-1.16%)
     
  • CMC Crypto 200

    1,375.56
    -9.70 (-0.70%)
     

Mining jobs set to rise as Rio approves $3.5b mine

Mining jobs in Australia have been given another boost. <em>Photo: Carla Gottgens/Bloomberg</em>
Mining jobs in Australia have been given another boost. Photo: Carla Gottgens/Bloomberg

The mining sector is set to grow further thanks to a $3.5 billion investment Rio Tinto is making in its new Western Australia-based iron ore mine.

Construction of the Koodaideri mine is expected to involve more than 2000 workers and create 600 permanent jobs in WA once the mine is operational.

“This further investment in our iron ore business is also a multibillion-dollar vote of confidence in Western Australia,” said Rio Tinto CEO Jean-Sebastien Jacques.

“The project will also deliver significant opportunities for local companies and we expect more than $3 billion will be spent with Australian-based businesses, with opportunities for about $2.5 billion of spending for Western Australian-based businesses during its development.”

ADVERTISEMENT

It’s the latest boost to the mining sector, which has been staging something of a comeback for the last six months.

In the July-September quarter, mining jobs ads on SEEK for WA, NSW, Victoria and Queensland all jumped by approximately 30 per cent when compared to the same period last year.

Not only that, but advertised salaries in this sector soared by more than ten per cent.

Those working in the mining sector take home the most weekly pay of all the sectors at $1,900, according to the Australian Bureau of Statistics.

Another sector set for major growth is the renewable energy sector. According to figures from the Australia institute, jobs could potentially rise as much as 58,500 by 2030.

Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.

Read next: Workers in this industry earn $1,900 a week

Read next: Mining jobs back with a bang