Gold mining muscle driving the State economy

Goldfields miners have been named as the biggest movers in Deloitte WA’s growth index awards which have been revealed today.

Released on the morning when nearly 2400 delegates from across the world converge on Kalgoorlie-Boulder for the annual Diggers and Dealers Mining Forum, research from the accounting giant reveals WA’s top 100 companies were worth $190.9 billion at the end of the financial year.

After adjusting for a multibillion-dollar demerger of Coles from Westfarmers last year, this marks a 7.5 per cent rise in Deloitte’s index, with gold and iron ore underpinning WA’s firm economic footing.

The WA Index top 20 charge was led by a stunning performance by Silver Lake Resources.

The gold producer, with its cornerstone asset at the Mt Monger gold project 50km south-east of Kalgoorlie-Boulder, grew its market capitalisation by 240 per cent from $302 million to $1.03 billion.

The mid-tier miner’s $52 million deal with EganStreet Resources comes fresh off the back of bedding down its merger with Doray Minerals.

Mount Gibson Iron and Fortescue Metals Group also performed well, rising 141 per cent and 103 per cent, respectively.

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