Mining injects $14.9B into NSW

NEW South Wales mining companies have increased their annual injection into the state economy by $1.2 billion to $14.9 billion in the past financial year despite the impact of the COVID-19 pandemic.
Mining injects $14.9B into NSW Mining injects $14.9B into NSW Mining injects $14.9B into NSW Mining injects $14.9B into NSW Mining injects $14.9B into NSW

Mining’s contribution to the NSW economy remained strong in 2019-20 with increases in jobs and salaries.

The NSW Minerals Council's latest annual member company Expenditure Survey found the 27 participating mining companies also supported tens of thousands of jobs and generated billions in additional spending across NSW, particularly in regional communities.

NSW Minerals Council CEO Stephen Galilee said mining's contribution to the NSW economy remained strong in 2019-20 with increases in jobs, salaries and the number of local mining supplier businesses in NSW.

"The overall improvement in mining jobs during the last financial year highlights the resilience of our industry during tough times and the importance of keeping mines operating while maintaining safety of miners, their families and mining communities across NSW," he said.

"These results also demonstrate the importance of mining for thousands of small and medium businesses in regional NSW and across Sydney that supply our mines."

There were almost 27,500 mining jobs supported by NSWMC member companies in 2019-20, an increase of about 1300 compared to the previous financial year.

Member companies also directly spent $10.3 billion in NSW during the last financial year on the purchase of goods and services from almost 8,000 local businesses.

This is an increase of about 1000 in the number of local businesses supported by mining from the previous financial year.   

Surveyed companies spent $94 million in community contributions and payments to local governments and contributed $1.8 billion in taxes to the NSW government, including royalties.

"While some don't realise the strong connection Sydney has with mining, many Sydney suburbs are home to hundreds of local businesses that are part of this mining supply chain, particularly in Western Sydney," Galilee said. 

"These survey results confirm that much of regional NSW continues to depend on mining projects for local jobs, investment and economic growth. 

"If mining is to continue to deliver these direct economic benefits to NSW and help with the post-COVID-19 recovery, we need the right policy settings to support our miners, their families and our mining communities over the long-term."