Chamber of Commerce and Industry WA’s survey reveals favourable future for mining regions

Businesses in WA’s mining regions are upbeat about the future while the agricultural and tourism areas are nervous, a new report has found. The Chamber of Commerce and Industry’s Regional Pulse Survey for June reported that, with rising gold and iron ore prices, 55 per cent of Pilbara businesses and 44 per cent of Goldfields businesses expected stronger short-term conditions. However, the South West, Wheatbelt and Great Southern regions all reported much lower business confidence - down to just 12 per cent in the latter. The CCI reported that the rising cost of living has hit tourist towns, while drier weather in the Wheatbelt affects growing conditions. CCI chief economist Aaron Morey said that across the regions, operating costs remain the main barrier for businesses. “The key challenges of the past two years - skills shortages, supply chain disruptions and COVID - have been overtaken by punishing operating costs,” Mr Morey said. Four out of five regional businesses said operating costs were their biggest concern, unchanged since last quarter.