Direct Mining Spending Boosts Hunter Economy – Cessnock

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The NSW Minerals Council’s latest annual member company Expenditure Survey has found that the 28 participating mining companies directly injected $4.3 billion into the Hunter 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 Hunter 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 18 percent of the Gross Regional Product of the Hunter economy in 2017-18.

 

This $4.3 billion in direct spending in 2017-18 included $1.6 billion in wages for 14,045 full-time employees, and $2.6 billion in purchases from 4,168 local businesses, along with community contributions and payments to local government.

 

In encouraging signs for the Hunter mining sector, the number of direct Hunter mining jobs was up by 1,441 on last year at 14,045 compared to 12,604 over the previous year.

 

The survey found that direct mining spending in the Cessnock Local Government Area (LGA) totalled $453 million in 2017-18, including $196 million in wages to 1,816 full-time employees, 200 more jobs than the previous year. Purchases with local businesses totalled $257 million supporting 225 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 Hunter 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 Hunter mining communities over the long term,” he said.

 

Contact: Hugo Robinson