Western Australia is set to get a new $5.6 billion Pilbara iron ore project involving the billionaire Todd family from New Zealand.
The WA government is set to sign a state agreement for a project that would create more than 3300 construction jobs and 910 jobs.
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Barnett approves new Pilbara mine
WA Premier Colin Barnett has approved a new iron ore mine in the Pilbara that will create thousands of new jobs for West Aussies. Vision: Nine News Perth
The project involves building a six million to 10 million-tonne-a-year iron ore mine near Whim Creek.
The iron ore mine would involve a railway and new port.
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Labor's Ben Wyatt told 6PR Radio he welcomed the news.
"That's a wonderful result if that mine comes off," he said.
"It would be another fillip for the people of the Pilbara and Western Australia."
The Todd family owns and controls the Todd corporation, an enterprise Forbes magazine estimated to be worth at least $1 billion in 2001.
- 6PR, AAP