Perth has the largest concentration of global resources companies in Australia, drawn in by the state’s mineral wealth, vibrant economy, attractive investment climate, low sovereign risk and highly skilled local workforce.
It is an important operating base for the world’s largest diversified corporations, including 78 Financial Times Global 500 companies. Among them are BHP Billiton, Rio Tinto, Chevron, ConocoPhillips, Woodside Petroleum, Inpex, Newmont Mining, Barrick Gold, POSCO and Mitsui.
They are some of the 400 international companies with a strong presence in Perth that either have projects across Australia, or exclusively service and supply oil and gas exploration and production companies in the region. And of these, 40 major oilfield services firms use Perth as a regional base.
Western Australia’s strategic proximity to Asia’s mega economies, its recognition as the world’s top investment jurisdiction for mining companies and its emergence as a corporate centre for the resources sector have resulted in a shift of corporate activity within Australia from the east coast to the west.
Despite its smaller geographic footprint, Perth hosts 723 of the 2,049 Australian Stock Exchange (ASX) companies, which is markedly higher than Sydney (639) and Melbourne (348).
The Western Australian resources environment has attracted world’s highest-profile finance and consultancy firms to locate in Perth. They include three of the largest consultancies – Boston Consulting Group, Bain & Co and McKenzie Group – as well as multinational investment banking firms Goldman Sachs and BNP Paribas, and leading law practices Clifford Chance, Norton Rose Fulbright and Squire Sanders, among others.