The NSW Minerals Council’s latest annual Member Expenditure Survey has found in the last financial year 28 participating NSW mining companies supported a record number of mining jobs and maintained high levels of direct spending in Northern NSW 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 3,772 jobs in the Northern region - communities like Tamworth, Gunnedah, Narrabri, and Boggabri. This was an increase of almost a thousand 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 $344 million into the economy of the Northern region in the last financial year - down just slightly on the previous year and the third-highest result reported in a decade.
The $344 million of direct mining spending in the Northern region last financial year included over $190 million spent on wages and salaries, as well as almost $148 million for goods and services purchased from over 369 mining supplier businesses across the Northern region.
The 369 Northern businesses reported as part of the region’s mining supply chain was down slightly from the 406 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 $344 million of direct spending of the 28 participating mining companies in the last financial year contributed 6% of the GRP of the Northern region’s economy during this period.
“These very strong jobs and expenditure numbers highlight the importance of the mining sector for the Northern 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 Northern region at the height of the Covid-19 pandemic,” NSW Minerals Council CEO Stephen Galilee said today.
“The ongoing economic contribution to the Northern 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.