Direct Mining Spending Boosts New England Economy

“

The NSW Minerals Council’s latest annual member company Expenditure Survey has found that the 28 participating mining companies directly injected $238 million into the New England 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 New England 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 four percent of the Gross Regional Product of the New England economy in 2017-18.

 

This $238 in direct spending in 2017-18 included nearly $138 million in wages for 1,163 full-time employees, and over $100 million in purchases from 402 local businesses, along with community contributions and payments to local government.

 

In encouraging signs for the New England mining sector, the number of direct local mining jobs was up by 188 on last year at 1,163 compared to 975 over the previous year.

 

In the Gunnedah Local Government Area (LGA), surveyed mining companies spent over $117 million in 2017-18, including nearly $72 million in wages to 579 full-time employees, an increase of over 70 jobs compared to the previous year.  Purchases with local businesses totalled over $45 million supporting 158 local businesses.

 

The survey found that direct mining spending in the Narrabri LGA totalled over $56 million in 2017-18, including nearly $34 million in wages to 300 full-time employees, an increase of almost 70 jobs compared to the previous year.  Purchases with local businesses totalled $23 million supporting 89 local businesses.

 

The survey found that direct mining spending in the Tamworth LGA totalled nearly $39 million in 2017-18, including $20 million in wages to 168 full-time employees.  Purchases with local businesses totalled nearly $19 million supporting 88 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 New England 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