Survey confirms increased annual mining spending in the Illawarra

Survey confirms increased annual mining spending in the Illawarra

Results from the latest annual NSW Minerals Council’s latest Member Expenditure Survey have confirmed mining’s important economic contribution to the region Illawarra continues.

Participating mining companies directly injected $802 million into the Illawarra economy in the last financial year – an increase of $100 million on the previous year.

This is the fourth year in a row that annual direct mining spending in the Illawarra has been over $650 million, representing an ongoing strong economic injection into the local economy.

The same companies also supported 1,856 full-time equivalent jobs in the Illawarra, down only slightly on the previous financial year’s job number of 1,875.

The $802 million of direct mining spending in the Illawarra last financial year included over     $170 million on wages and salaries, and $630 million for goods and services purchased from over 424 mining supplier businesses across the Illawarra region.

An economic analysis of these Survey results found the $802 million of direct spending of the 27 participating mining companies in the last financial year contributed 8.3% of the GRP of the Illawarra’s economy during this period, up from 7.3% the previous year.

“These very strong results highlight the importance of mining for the Illawarra’s economy, and for mining communities across the region. Mining clearly continues to provide economic strength and stability to the Illawarra, 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 Illawarra. Thousands of Illawarra 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