Direct Mining Spending Boosts North Western Economy - Dubbo
The NSW Minerals Council’s latest annual member company Expenditure Survey has found that the 28 participating mining companies directly injected $305 million into the North Western economy in 2017/18, supporting thousands of jobs and generating millions in additional spending across the region, particularly in local mining communities.
“These survey results show that mining’s contribution to the North Western economy remains strong, with jobs and the number of local business supported by our members increasing,” NSW Minerals Council CEO, Stephen Galilee said today.
This direct spending is estimated to have contributed 8.5 percent of the Gross Regional Product of the North Western economy in 2017-18.
This $305 million in direct spending in 2017-18 included almost $187 million in wages for 1,859 full-time employees, and nearly $118 million in purchases from 521 local businesses, along with community contributions and payments to local government.
In the Dubbo Local Government Area (LGA), surveyed mining companies spent $35 million in 2017-18, including nearly $12 million in wages to 170 full-time employees, an increase of nearly 50 jobs compared to the previous year. Purchases with local businesses totalled nearly $23 million supporting 203 local businesses.
Across NSW surveyed companies directly spent $10.7 billion in 2017/18 an increase of $300 million compared to the previous year. This direct spending included over $3 billion in wages to more than 24,000 employees and $5.6 billion on the purchase of goods and services from 7,135 local businesses.
“This survey, now completed for a seventh year, confirms that the North Western region continues to depend on mining activity for local jobs, investment and economic growth. The challenge for whoever forms government at the March will be to implement the right policy settings for mining so our industry can deliver more jobs, more opportunities, and better times for our local mining communities over the long term,” he said.
Contact: Hugo Robinson | hrobinson@nswmining.com.au | 0409 758 734 | 02 9274 1419