NSW mining companies inject $10.7 billion into NSW economy in 2017-18

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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 $10.7 billion into the NSW economy in 2017/18, supporting thousands of jobs and generating further billions in additional spending across NSW, particularly in many regional communities across the state.

“These survey results show that mining’s contribution to the NSW economy is on the rise, with jobs, salaries and the number of local business supported by our members increasing,” NSW Minerals Council CEO, Stephen Galilee said today.

The $10.7 billion in direct spending in 2017/18 represents an increase of $300 million compared to the previous year.

The direct spending included over $3 billion in wages to 24,193 employees, an increase of 1,372 jobs compared to 2016/17.

Our member companies also directly spent $5.6 billion in NSW on the purchase of goods and services from 7,135 local businesses, an increase of 454 in the number of local businesses supported by mining from the previous year.

Surveyed companies also spent $68 million in community contributions and payments to local government and $2 billion was spent in taxes to the NSW Government, including royalties.

“The strong improvement in the number of mining jobs being provided by our member companies is good news for mining communities as well as for the thousands of small and medium businesses across Sydney that supply our mines,” Mr Galilee said.

“While some don’t realise the strong connection Sydney has with mining, many Sydney suburbs are home to hundreds of local businesses that are part of this mining supply chain, particularly in Western Sydney,” Mr Galilee said.

This survey, now completed for a seventh year, demonstrates the scale of mining’s contribution and the importance of mining to the broader NSW economy.

“These survey results confirm that much of regional NSW continues to depend on mining projects for local jobs, investment and economic growth.

“Whoever forms government at the next election will need to ensure we have the right policy settings to ensure mining can continue to deliver more regional jobs, more spending and strong economic growth for our mining communities and for NSW in the long term.”

The full results of the Survey will be released in the coming weeks.

Contact: Hugo Robinson