New analysis by the NSW Minerals Council has found that its mining member companies directly injected more than $122 billion into the NSW economy over the past decade, creating tens of thousands of jobs and supporting thousands of local businesses across the State.
The analysis of the figures also shows that mining member companies steadily increased the number of direct jobs provided over the 10 years, from about 20,000 per year in 2011-12 to 30,000 per year in 2020-21.
This includes an increase in the number of Hunter-based mining workers over the past decade, whose votes could decide the outcome of a handful of key seats at the federal election this weekend.
Since 2012, the NSW Minerals Council’s Member Expenditure Survey has recorded the number of jobs member companies provide in NSW, as well as direct spending levels, and the number of local businesses supported.
Analysis shows that mining member companies directly invested $122 billion in NSW over the period, including $28 billion in wages and salaries and over $81 billion in purchases with thousands of local supplier businesses.
And despite the economic peaks and troughs, as well as the last two years of a global pandemic, the companies continue to support between 7000 to 8000 supply businesses across NSW – from Western NSW to Western Sydney.
The report also shows the massive direct contribution made to the NSW budget with over $15 billion in mining royalties delivered to the NSW Treasury over the period, and another $2.8 billion forecast in the most recent budget update.
NSW Minerals Council CEO Stephen Galilee the results highlighted the importance of a strong mining sector for the NSW economy and for mining communities across the state.
“Global demand for high-quality NSW metals and coal has continued at record levels, reflected in high prices. This has meant more mining jobs, more royalties for the people of NSW, and more economic benefits for NSW mining communities.
“That’s why, during the federal election campaign, mining communities across NSW want to know that they’ll be supported well into the future so they can keep delivering for the State.
“The votes of these miners and their families, and the people who work in over 3000 local mining supply businesses, have the potential to decide the outcome of three close local electorates – Hunter, Paterson and Shortland.
“These hard-working families want to see more than just hi-vis happy snaps on the campaign trail. They want to see commitments of support converted into real action beyond the next election.”