28 mining companies directly injected $10.7 billion into the New South Wales economy in 2017/18, supporting thousands of jobs and generating billions in additional spending across the state, according to the NSW Minerals Council’s latest annual member survey.
According to the information released by the Council today, the $10.7 billion in direct spending in 2017/18 represents a $300 million increase compared to the year prior.
The direct spending included over $3 billion in wages to 24,193 employees (an increase of 1,372 jobs compared to 2016/17) and $5.6 billion on the purchase of goods and services from 7,135 local businesses (a 454 increase from the previous year).
In addition, the survey also found that mining companies spent $68 million in community contributions and payments to local government and spent $2 billion in taxes to the NSW Government.
NSW Minerals Council CEO Stephen Galilee said the survey results highlight that mining’s contribution to the NSW economy is on the rise, with jobs, salaries and the number of local businesses supported by member companies also increasing.
“The strong improvement in the number of mining jobs being provided by our member companies is good news for mining communities as well as for the thousands of small and medium businesses across Sydney that supply our mines,” Mr Galilee said.
“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.”
The full results of the survey are expected to be released in the coming weeks.