Chamber of Minerals and Energy WA (CME) analysis estimates WA has $8.1 trillion in saleable mineral and energy products remaining across 27 commodities.
Western Australia could have $8.1 trillion in saleable mineral and energy products still in the ground, with iron ore and gold among the resources underpinning what the Chamber of Minerals and Energy WA (CME) sees as decades of opportunity.
CME head of economics Aaron Walker used his address at the WA Mining Conference and Exhibition 2026 to outline new analysis commissioned from EY-Parthenon that examines WA’s identified mineral and energy resources across 27 commodities.
The analysis estimates WA has approximately 48.8 billion tonnes of known iron ore remaining that is expected to be commercially extractable. By comparison, Walker said about 17 billion tonnes had been extracted during the previous 125 years.
Walker said the $8.1 trillion estimate was based on conservative assumptions, including that only 80 per cent of identified resources would be developed, that no additional resources would be discovered, and that no additional value would be created through processing.
The findings build on an industry that Walker said already accounts for approximately 40 per cent of WA’s economy, 90 per cent of its exports and around one-quarter of WA Government general revenue.
Walker traced that position back to WA’s early gold industry, followed by the emergence of iron ore in the 1960s and subsequent growth in liquefied natural gas, nickel, bauxite, lithium and other commodities.
Rather than viewing economic diversification as moving away from resources, Walker said WA had progressively diversified within the sector.
“We have been diversifying and growing within the resources sector for decades,” he said.
Despite 125 years of production, Walker said the scale of WA’s remaining resources provided a long-term pipeline for the industry.
“The best news is that the opportunities ahead remain enormous,” he said.
“Western Australia still has decades of runway ahead.”
