Mining direct spending worth $12.8 billion to NSW

October 24, 2013

A new industry survey of 26 mining companies reveals direct spending of around $12.8 billion on wages, goods, services and community contributions in NSW over the 2012-13 financial year.
 
This direct spending included $3.1 billion spent on wages, and over $9.7 billion in spending on goods and services with over 10,500 local businesses across the state.
 
The NSW Minerals Council’s detailed economic survey of its members was conducted by Lawrence Consulting and peer reviewed by the Centre for Small Business and Regional Research at the University of Wollongong.
 
The survey found that the Hunter region received $6.3 billion or almost half of NSW mining spending on wages and goods and services in 2012-13, followed by Sydney which received $3.2 billion, the Illawarra with $1.4 billion, the Central West with $1 billion and the North Western region with
$376 million.
 
When broken down by ABS region, the survey found that direct and indirect mining industry spending contributed around 36 per cent of the Gross Regional Product (GRP) of the Hunter, 19 per cent of the GRP in the Central West, 30 per cent of the GRP of the Far West of NSW, 17 per cent of the GRP in the Illawarra and 4 per cent of the GRP in Northern NSW.
 
The economic survey revealed that over 10,540 businesses in New South Wales benefitted from payments for goods and services supplied to surveyed mining companies during 2012-13. The highest number of businesses benefitting were in the Hunter with 4,871 businesses followed by Sydney with 3,474 businesses supported by NSW mining spending.
 
Releasing the at the NSW Mining Industry and Suppliers Conference in Sydney, NSW Minerals Council CEO, Stephen Galilee said the survey results highlight how the benefits of the mining sector are spread across NSW.
 
“This survey of our members provides a detailed picture of the economic benefits of mining beyond the mining sector, not just in mining regions, but also in Sydney and across the state,” Mr Galilee said.
 
“That’s why it’s vital that governments at all levels get the policy balance right and support the responsible development of mining in NSW.
 
“Mining has had a tough 12 months, with a fall in commodity prices, a high Australian dollar, increased regulatory costs, and uncertainty within the industry in relation to the NSW planning system,” Mr Galilee said.
 
“If we want our local mining industry to continue to drive economic activity in NSW and support jobs and local businesses across the state, the NSW planning system must be fixed to provide certainty and stability for the future,” Mr Galilee said.
 
Results of the survey will be launched at www.nswmining.com.au/economic-impact and at the NSW Mining Industry and Suppliers Conference today.

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