Contribution of mining to Hunter economy increases in 2019-20
The NSW Minerals Council’s latest annual member Expenditure Survey has found that in the last financial year the 28 participating mining companies directly injected $6.2 billion into the Hunter economy, supporting over 13,000 Hunter mining jobs and over 3,400 local mining supplier businesses.
“These survey results show that despite the COVID-19 pandemic, mining’s contribution to the Hunter economy last year remained strong, with jobs relatively stable, more direct mining spending, and an increase in the number of Hunter mining supplier businesses,” NSW Minerals Council CEO, Stephen Galilee said today.
While the 13,000 Hunter mining jobs supported by our member companies was around the same as the previous year, the $6.2 billion in direct spending in the Hunter represented an increase of around $800 milion.
In addition, the 3,400 mining supplier businesses in the last financial year represented an increase of 126 businesses compared to the previous year.
The Survey results once again confirm the Hunter’s ongoing status as the biggest mining region in NSW. Our mining member companies directly spent $15 billion in total in NSW in 2019-20 and the $6.2 billion in direct spending in the Hunter was the largest of any region.
The $6.2 billion in direct spending is estimated to have contributed around 28 percent of the Gross Regional Product of the Hunter economy in 2019-20. This is a significant contribution by any measure, and up from 23 percent the previous year.
“The overall improvement in the economic boost for the Hunter provided by our member companies highlights the resilience of our industry during these tough times, keeping our mines operating while maintaining the safety of our miners, their families and our mining communities across NSW.”