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Deloitte at Diggers and Dealers 2015
Deloitte is proud to be a sponsor of Diggers and Dealers 2015, held each year in Kalgoorlie, regional Western Australia. Diggers and Dealers is a leading annual mining conference which draws over 2000 delegates from the mining, exploration and professional services industries and includes presentations by listed mining and exploration companies. Attending Diggers and Dealers? Please visit us at booth #8, we’d love to chat!
Welcome to the annual Diggers and Dealers special edition of the Deloitte WA Index. This edition celebrates 15 years of the Deloitte WA Index and acknowledges the significant role the mining industry has played in the growth of the West Australia economy over this period. We also shine the spotlight on the mining companies that sit in the top 15 companies in the Deloitte WA Index by market capitalisation as at 30 June 2015.
- Despite the challenges faced by the WA economy in the past 15 years, the value of the top 100 Western Australian–based listed companies has grown by 290% with the market capitalisation increasing from $34.0bn to $131.9bn over the 15 year period - an extraordinary result compared to the general performance of equity markets, both locally and globally
- On the resources front, the top 10 WA resource companies dominated then and dominate now, accounting for 40.0%, or $13.6bn, of the total market capitalisation of the Deloitte WA Index in June 2000, compared to 41.4%, or $54.6bn, at the end of June 2015
- This outstanding growth aside, FY15 has still been a challenging year. The Index shed 11.6%, driven by an overall slowdown in WA’s mining sector and led by unfavourable movements in commodity prices
- Significantly, the Index would have lost more ground if not for the listing of South32 in May which, at the time added $11.3bn, or 8.4%, to the market capitalisation of the top 100
- The price of iron ore spiralled downward by 36.8% over the past 12 months to hit a 10-year low, trading at less than US$50/tonne
- Of all the commodities surveyed, crude oil prices were heaviest hit over the past 12 months, with the US shale gas boom lifting production dramatically, while OPEC maintained its production levels
- Uranium was the top performer in FY15, increasing by 29.2% thanks to a rebound in demand from the Asian region.
The Deloitte WA Index also acknowledges FY15 top performers that represent the current and immediate reshaping of the Index: – Northern Star Resources and Independence Group – as well as one with the potential to reshape it in the future – Gold Road Resources.
Diggers and Dealers 2015
The 2015 edition of Tracking the trends takes a look at the issues that miners will face in the coming year and outlines a wealth of potential responses proposed from Deloitte member firm’s mining professionals. Follow this link to download the report.