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

Statement from NSW Minerals Council CEO Stephen Galilee

The NSW Minerals Council’s latest annual member Expenditure Survey reveals last financial year 29 participating NSW mining companies supported record levels of mining jobs and near record levels of direct spending in NSW.

In the last financial year, participating mining companies supported over 35,100 full time equivalent jobs, an increase of almost 160 jobs on the previous year and the highest number of mining jobs reported in the history of the Survey.

The Survey also found participating companies directly injected close to $22 billion into the NSW economy over the same period, matching the previous year’s spending figure and nearly double the 2014/15 financial year figure of $11 billion.

The $22 billion in direct spending included $4 billion spent on wages and salaries, $14.2 billion for goods and services purchased from more than 7,500 NSW businesses, and $3.6 billion in royalties and other taxes paid to the NSW Government.

The coal sector delivered the largest contribution to the NSW economy, delivering $19.3 billion in direct spending, including $3.4 billion in wages and salaries, and $12.5 billion with almost 5,400 local supply businesses. The coal sector directly provided over 26,100 jobs and delivered $3.3 billion billion in royalties and other taxes paid to the NSW Government.

The metals mining sector delivered $2.6 billion in direct spending to the NSW economy, including $0.6 billion in wages and salaries, and $1.6 billion with over 2,800 local supply businesses. The metals sector directly provided over 9,000 jobs and delivered $0.3 billion in royalties and other taxes paid to the NSW Government.

“The mining sector’s contribution to the NSW economy is the one of the largest in the 14 year history of the survey, delivering more jobs than ever, spending $22 billion directly across the state, and supporting more than 7,500 NSW businesses.” NSW Minerals Council CEO Stephen Galilee said today.

“In the current climate of economic uncertainty it is vital that governments support industries like mining that deliver such stability to the economy. Approving mining projects that secure jobs and economic growth for the future is good policy. New taxes and new red tape for an industry already drowning in compliance burdens is not good policy.”

An economic analysis of the Survey results found the regional impact of mining spending of the 29 participating mining companies was equivalent to:

26% of the Gross Regional Product (GRP) of the Hunter region
15% of the GRP of the Central West region
8% of the GRP of the Illawarra region
15% of the GRP of the North West region
5% of the GRP of the Northern region
14% 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.

Contact: Brad Emery | bemery@nswmining.com.au | 0450620254

ATTACHMENT – Graphs: Total spending, workforce and supplier businesses 2016/17- 2024/25