Survey confirms millions in mining spending and thousands of mining jobs in Cobar and surrounds
Results from the NSW Minerals Council’s latest annual Member Expenditure Survey have confirmed mining’s ongoing critical economic contribution to the Cobar Local Government Area (LGA), as well as to the overall North Western region of NSW.
In the Cobar LGA, participating mining companies supported over 600 local jobs and directly injected $100 million into the local economy.
The $100 million of direct mining spending in the Cobar LGA last financial year included over $64 million on wages and salaries, and $36 million for goods and services purchased from over 116 local mining supplier businesses.
Across the North Western region participating mining companies supported over 2,934 jobs, the second highest number of jobs reported in the decade-long history of the survey.
The same companies also directly injected $591 million into the North Western region’s economy in the last financial year, the third highest level of spending in the region since the survey was first undertaken.
The $591 million of direct mining spending in the North Western region last financial year included over $347 million on wages and salaries, and $228 million for goods and services purchased from over 715 mining supplier businesses across the region, an increase in the number of supply businesses of around 90.
An economic analysis of these Survey results found the $591 million of direct spending of the 27 participating mining companies in the last financial year contributed around 12% of the GRP of the region’s economy during this period.
“These very strong results highlight the importance of mining for the North Western region’s economy, and for mining communities across the region. Mining clearly continues to provide economic strength and stability to communities in the region, supporting thousands of local families and businesses,” NSW Minerals Council CEO Stephen Galilee said today.
“With an election approaching, these strong results are a timely reminder of the importance of a strong mining sector for the future of Cobar and the region. Many people will head to the polls on election day at least partially considering their vote based on who will best support the mining sector into the future.”