22 February 2024
Survey confirms mining spending and jobs contribution to Central West
Results from the NSW Minerals Council’s latest Member Expenditure Survey have confirmed mining has emerged as a strong and consistent economic contributor to Central West.
In the last financial year, participating mining companies supported over 5,500 jobs in the Central West. This is the fourth year in a row that mining jobs in the Central West have been near 5000 or more.
The same companies also directly injected $1.2 billion into the economy of the Central West in the last financial year - the second highest level of spending since the survey was first undertaken in 2012 and the fourth year in a row that mining spending in the region has been at $1 billion or more annually.
The $1.2 billion of direct mining spending in the Central West last financial year included almost $460 million on wages and salaries and nearly $760 million for goods and services purchased from over 1,000 mining supplier businesses across the Central West region.
Again, this is the fourth year in a row that the number of mining supplier businesses in the Central West region has been at around 1000 or more.
An economic analysis of these results found the $1.2 billion of direct spending of the 28 participating mining companies in the last financial year contributed 19.2% of the GRP of the Central West region’s economy during this period.
“Mining companies in the Central West are maintaining record levels of spending in the local region while supporting ongoing record levels of Central West jobs, highlighting the importance of mining for local mining communities and the region’s economy,” NSW Minerals Council CEO Stephen Galilee said today.
“Over the last four years mining has contributed around 20 percent or more of total economic activity of the Central West, demonstrating its ongoing importance to the region.”
“These very strong results are a timely reminder of the need for policies that support a strong mining sector for the future of the Central West.”
ATTACHMENT - Graphs: Central West - total spending, workforce and supplier businesses 2011/12 - 2022/23
ENDS
Brad Emery | NSW Minerals Council | bemery@nswmining.com.au | 0450620254
