Latest data reveals mining’s record-breaking contribution to NSW economy

The NSW Minerals Council’s latest annual member Expenditure Survey reveals in the last financial year 31 participating NSW mining companies supported record levels of mining jobs and near record levels of direct spending in NSW, delivering a significant boost to the NSW economy.

In the last financial year, participating mining companies supported over 34,900 full time equivalent jobs, an increase of ten percent or nearly 3400 on the previous year, and the highest number of mining jobs reported in the more than a decade-long history of the Survey. 

The Survey also found participating companies directly injected $22 billion into the NSW economy over the same period, down slightly on the previous year’s record figure of $23.6 billion, but nearly double the 2014/15 financial year figure of $11 billion.

The $22 billion in direct spending included over $3.9 billion spent on wages and salaries, $14.4 billion for goods and services purchased from more than 7,000 NSW businesses, and $3.7 billion in royalties and other taxes paid to the NSW Government. 

“The mining sector continues to make a vital contribution to NSW, delivering more jobs than ever, spending $22 billion directly across the state, and supporting more than 7000 NSW businesses.” NSW Minerals Council CEO Stephen Galilee said today.

An economic analysis of the Survey results found the regional impact of mining spending of the 31 participating mining companies was equivalent to:

• 25% of the Gross Regional Product (GRP) of the Hunter region
• 17% of the GRP of the Central West region
• 9% of the GRP of the Illawarra region
• 15% of the GRP of the North West region
• 6% of the GRP of the Northern region
• 16% of the GRP of the Far West of NSW

“These strong GRP results from across the state highlight just how much of regional NSW continues to depend on mining for jobs, investment and economic growth,” Mr Galilee said. 

A full copy of the report will be available on the NSW Mining website soon.