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Wednesday, April 21, 2021

Mining contribution to Hunter economy increases

Mining companies directly injected $6.2 billion into the Hunter economy last financial year, according to the NSW Minerals Council’s latest annual member Expenditure Survey.

The review also found the 28 participating industry ventures supported more than 13,000 jobs in the region and in excess of 3,400 local supplier businesses.

NSW Minerals Council CEO Stephen Galilee said he was delighted by the findings.

“These survey results show that despite the COVID-19 pandemic, mining’s contribution to the Hunter economy last year remained strong,” he stated.

“Jobs were relatively stable, there was more direct mining spending and an increase in the number of Hunter mining supplier businesses.

“While the 13,000 Hunter mining jobs supported by our member companies was around the same as the previous year, the $6.2 billion in direct spending in the Hunter represented an increase of about $800 million.

“In addition, the 3,400 mining supplier businesses in the last financial year represented a surge of 126 compared to the previous year.”

Mr Galilee added the survey results once again confirmed the Hunter’s ongoing status as the biggest mining region in NSW.

“Our mining member companies directly spent $15 billion in total in NSW in 2019-20 and the $6.2 billion in direct spending in the Hunter was the largest of any region,” he said.

“The $6.2 billion in direct spending is estimated to have contributed around 28% of the Gross Regional Product of the Hunter economy in 2019-20.

“This is a significant contribution by any measure – and up from 23% the previous year.

“The overall improvement in the economic boost for the Hunter provided by our member companies highlights the resilience of our industry during these tough times.

“We kept our mines operating while maintaining the safety of our miners, their families and our mining communities across NSW.”

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