The NSW Minerals Council’s latest annual Member Expenditure Survey has found in the last financial year 28 participating NSW mining companies supported over a thousand mining jobs and maintained high levels of spending in the Far West of NSW 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 1,036 jobs in the Far West, an increase of almost 200 jobs on the previous year and the highest result reported in the ten-year history of the survey.
The Survey also found participating companies directly injected $202 million into the Far West economy in the last financial year - down from the very strong record in the previous year but still one of the strongest results reported over the last decade.
The $202 million of direct mining spending in the Far West last financial year included over $60 million spent on wages and salaries, as well as almost $142 million for goods and services purchased from over 124 mining supplier businesses across the Far West region.
The 124 Far West businesses reported as part of the region’s mining supply chain was down slightly from the 145 businesses reported in the previous year, reflecting the difficulties faced by many businesses across NSW due to Covid-19.
“These strong jobs and expenditure numbers highlight the importance of the mining sector for the Far West’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 Far West at the height of the Covid-19 pandemic,” NSW Minerals Council CEO Stephen Galilee said today.
“The ongoing economic contribution to the Far West 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.