The NSW Minerals Council’s latest annual Member Expenditure Survey has found in the last financial year 28 participating NSW mining companies supported nearly 2000 mining jobs, over 400 local businesses, and maintained high levels of overall spending in the Illawarra 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 1,875 jobs in the Illawarra, a slight increase on the previous year.
The Survey also found participating companies directly injected $702 million into the Illawarra economy in the last financial year - down just slightly to the previous year.
The $702 million of direct mining spending in the Illawarra last financial year included over $162 million spent on wages and salaries, as well as almost $538 million for goods and services purchased from over 419 mining supplier businesses across the Illawarra region.
The 419 Illawarra businesses reported as part of the region’s mining supply chain was down from the 510 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 $702 million of direct spending of the 28 participating mining companies in the last financial year contributed 8% of the GRP of the Illawarra’ region’s economy during this period.
“These results highlight the importance of mining to Illawarra’s economy, and especially for mining communities across the region. Mining was able to provide nearly 2000 jobs and support over 400 local businesses in the Illawarra at the height of the Covid-19 pandemic,” NSW Minerals Council CEO Stephen Galilee said today.