Published on Thursday, 31 August 2023 at 11:30:06 AM
The City of Kalgoorlie-Boulder’s economic development project, which led to the establishment of Lynas Rare Earths’ $575 million processing facility, has won its second award in two years.
Last week, the City was honoured to be awarded the prestigious 2023 National Economic Development Award for Excellence in the category of Economic Development Strategic Thinking.
In November 2022, the City was named the winner of the Innovative Management Initiative Award for the project at the Local Government Professionals WA Honour Awards.
Historically renowned for its gold mining, the City identified that a prosperous and sustainable future required a strategic shift toward economic diversification. In collaboration with the State Government, the City secured a pivotal head lease over a substantial land site. The City then actively engaged in seeking suitable proponents to establish and operate a cutting-edge processing facility.
Lynas Rare Earths, a leading name in the industry, recognised the potential of Kalgoorlie-Boulder's strategic vision and invested $575 million into the construction of a new processing plant. The City's foresight has not only resulted in substantial economic growth but has also generated significant employment opportunities.
Mayor John Bowler said it was fantastic for the City to be recognised for the success of this project which was delivering positive outcomes now and into the future.
"We are immensely proud to receive the 2023 National Economic Development Award for Excellence in Strategic Thinking.”
“This initiative is unique because it is not within the usual scope of local government to take a lead role in industry attraction and land ownership; however, we know the diversification of our local economy is crucial to the future long-term growth and economic sustainability of Kalgoorlie-Boulder,” he said.
“It was a strategic decision to try to attract downstream processing as an industry which has given us chances for big investments, made sure we keep buying things locally and brought more people to live in our city.”
Predictions indicate that by 2025, the economic impact of the Lynas Rare Earths downstream processing facility will exceed $1 billion, solidifying Kalgoorlie-Boulder's reputation as an economic powerhouse committed to sustainability.
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