NSW Mining companies spend $13.6 billion in the state

NSW mining companies spend $13.6 billion

22 NSW mining companies spent more than $13.6 billion in the state during 2013/14

The NSW Minerals Council`s Expenditure Survey found that $2.9 billion was spent on wages to 21,516 full-time employees while $9.6 billion was used to pay 8,202 local businesses, local governments and for use in community projects.

It is estimated that the Hunter Valley region received $5.9 billion or 43% of direct expenditure by mining in NSW followed by Sydney with $3.3 billion and the Illawarra with $1.5 billion.

NSW Minerals Council CEO Stephen Galilee said the survey results show the importance of NSWmining companies to thestate’s economy.

“Most people don`t realise that Sydney is a significant mining region, but the reality is that there are many suburbs of Sydney, particularly in Western Sydney, that benefit from mining,” Galilee said.

“For example, the local government area of Parramatta (LGA) received $411.5 million in direct mining spending on purchases from local supplier businesses. These include numerous manufacturing businesses that produce valuable components used in mining. Businesses in the Fairfield LGA received $226.7 million, businesses in Camden received $165 million and businesses in Auburn $112.5 million.”

Galilee said with the right policy settings, short-term challenges in the sector can be managed to deliver more jobs and benefits for mining communities.

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