31 March, 2021
The NSW Minerals Council’s latest annual member Expenditure Survey has found that the 28 participating NSWMC member companies directly injected $1 billion into the Central West’s economy in the last financial year, up from $781m in the previous financial year.
The results also show that our member companies in the Central West provided 4,946 local mining jobs in 2019-20, an increase of around 700 compared to the previous financial year.
“These survey results show that despite the COVID-19 pandemic, mining’s economic contribution to the Central West remained strong last year, with higher spending, more jobs and more local businesses supported by our member companies in the region,”
Stephen Galilee - CEO, NSW Minerals Council
In addition, there were 1,059 local Central Western businesses in the mining supply chain in the last financial year, up from 632 businesses in the previous year.
“These survey results show that despite the COVID-19 pandemic, mining’s economic contribution to the Central West remained strong last year, with higher spending, more jobs and more local businesses supported by our member companies in the region,” NSW Minerals Council CEO, Stephen Galilee said today.
This direct spending by NSWMC member companies is estimated to have generated around 19 per cent of the Gross Regional Product of the Central West in the last financial year.
This is a significant contribution by any measure and up from 15 percent in the previous year, providing a much needed boost to the Central West during the pandemic.
“The overall increase in the economic contribution of mining to the Central West in the last financial year highlights the resilience of our industry during tough times, reflecting our strong focus on keeping our mines operating during COVID-19 while maintaining the safety of our miners, their families and our mining communities across NSW.”
Brad Emery | NSW Minerals Council | 0450620254