The NSW Minerals Council’s latest annual Member Expenditure Survey has found in the last financial year 28 participating NSW mining companies supported thousands of mining jobs and maintained high levels of direct spending in the Northwestern region 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 2,708 jobs in the Northwestern region, a slight drop on the previous year, but still, the second-highest result reported in the ten-year history of the survey.
The Survey also found participating companies directly injected $610 million into the Northwestern region’s economy in the last financial year - down just slightly to the previous year and again, the second-highest result reported in a decade.
The $610 million of direct mining spending in the Northwestern region last financial year included over $300 million spent on wages and salaries, as well as almost $292 million for goods and services purchased from over 627 mining supplier businesses across the Northwestern region.
The 627 Northwestern region businesses reported as part of the region’s mining supply chain was down slightly from the 756 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 $610 million of direct spending of the 28 participating mining companies in the last financial year contributed 14% of the GRP of the Northwestern region’s economy during this period.
“These very strong jobs and expenditure numbers highlight the importance of the mining sector for the Northwestern region’s economy, and especially for local mining communities. These results also demonstrate how mining was able to provide economic strength and stability to the Northwestern region at the height of the Covid-19 pandemic,” NSW Minerals Council CEO Stephen Galilee said today.
“The ongoing economic contribution to the Northwestern region 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.