Australia’s mining and METS (mining equipment, technology and services) sectors are powerhouse contributors to Australia’s ongoing prosperity, according to new analysis by Deloitte Access Economics commissioned by the Minerals Council of Australia (MCA).
Economic Contribution of the Mining and METS sector: Australian estimates found that the sector generated $241.9 billion in value added to the national economy in 2019-20, representing approximately 12.4 per cent of the value of the Australian economy.
The mining and METS sector supported an estimated 1,131,450 full-time equivalent (FTE) jobs in Australia, representing approximately 10.8 per cent of total FTE employment.
It directly contributed $145.3 billion in value added to the Australian economy and also directly supported 483,499 FTE jobs in Australia.
It also outlaid approximately $110 billion in intermediate expenditures, generating an indirect economic contribution to the national economy of $96.6 billion in value added.
Around 647,950 FTE jobs outside the mining and METS sector were supported through these flow-on linkages.
Chief Executive Officer of the MCA, Tania Constable, said Australian mining is a global leader in providing the essential elements of modern life while growing the nation’s economy and sustaining regional communities.
“The industry is committed to contributing to the sustained growth and prosperity of current and future generations through the integration of economic progress, responsible social development and effective environmental management,” Ms Constable said.
“Australia cannot take mining’s contribution to jobs, investment and communities in the future for granted, because when mining is strong, Australia wins.”