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Survey confirms billions in spending and record mining jobs in the Central West
Survey confirms billions in spending and record mining jobs in the Central West
Results from the NSW Minerals Council’s latest annual Member Expenditure Survey have confirmed mining’s ongoing critical economic contribution to the Central West, including communities like Mudgee, Parkes, Forbes, Lithgow, Bathurst and Orange.
Participating mining companies supported over 5,600 jobs in the Central West, an increase of around 30 jobs compared to last financial year and the highest number of jobs reported in the decade-long history of the survey.
The same companies also directly injected $1.3 billion into the Central West economy in the last financial year – an increase of over $200 million on the previous year and the highest result recorded for the Central West in the history of the expenditure surveys.
This is the third year in a row that direct mining spending in the Central West has been at or over $1 billion.
The $1.3 billion of direct mining spending in the Central West last financial year included over $406 million on wages and salaries, and $861 million for goods and services purchased from over 1,000 mining supplier businesses across the Central West.
An economic analysis of these Survey results found the $1.3 billion of direct spending of the 27 participating mining companies in the last financial year contributed 22% of the GRP of the Central West’s economy during this period, a record level percentage for mining’s contribution to the region’s GRP.
“These very strong results highlight the importance of mining for the Central West’s economy, and for mining communities across the region. Mining clearly continues to provide economic strength and stability to communities in the Central West, supporting thousands of local families and businesses,” NSW Minerals Council CEO Stephen Galilee said today.
“With an election approaching, these strong results are a timely reminder of the importance of a strong mining sector for the future of the Central West. Thousands of locals will head to the polls on election day at least partially considering their vote based on who will best support a strong mining sector into the future.”
Brad Emery