The NSW Minerals Council’s latest annual Member Expenditure Survey has found that in the last financial year 28 participating NSW mining companies supported thousands of mining jobs and maintained high levels of direct spending in the Hunter during the Covid-19 pandemic, boosting the region’s economy at a time when it was most needed.
The Survey found in the last financial year participating mining companies supported over 13,250 jobs in the Hunter, a slight increase on the previous year and the third-highest result reported in the ten-year history of the survey.
The Survey also found participating companies directly injected $6.1 billion into the Hunter economy in the last financial year - down just slightly from the previous year and the equal second highest result reported in a decade.
The $6.1 billion of direct mining spending in the Hunter last financial year included over $1.53 billion spent on wages and salaries, as well as almost $4.5 billion for goods and services purchased from over 3,160 mining supplier businesses across the Hunter region.
The 3,160 Hunter businesses reported as part of the region’s mining supply chain was down slightly from the 3,400 businesses reported in the previous year, reflecting the difficulties faced by many businesses across NSW due to Covid-19.
An economic analysis of these Survey results found the $6.1 billion of direct spending of the 28 participating mining companies in the last financial year contributed 29% of the GRP of the Hunter region’s economy during this period.
“These very strong jobs and expenditure numbers highlight the importance of the mining sector for the Hunter’s economy, and especially for mining communities across the region. These results also demonstrate how mining was able to provide economic strength and stability to the Hunter at the height of the Covid-19 pandemic,” NSW Minerals Council CEO Stephen Galilee said today.
“The ongoing economic contribution to 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,” Mr Galilee said.
Brad Emery | NSW Minerals Council | bemery@nswmining.com.au | 0450620254