Nickel mining in Western Australia has been an industry that has had many fluctuations of fortune in its history. Large fluctuations in the world nickel price have seen mines close and reopen on several occasions. In 2004/05, the value of nickel production ($2.7 billion) exceeded that of gold ($2.2 billion). In the 2011 calendar year, nickel contributed $3.9 billion or four per cent to the value of the State's resources. Nickel production in the same year was 188,000 tonnes.