A new mining survey, conducted by the University of Newcastle and Lawrence Consulting, has revealed the significant economic contributions the industry has made beyond the mining sector in New South Wales.
With indirect spending taken into account, the mining companies surveyed provided economic stimulus of more than $18.8 billion to the NSW economy in 2011-12.
The NSW Minerals Council’s first detailed economic survey, which encompassed 21 NSW mining companies including the state’s largest, was produced by Lawrence Consulting in collaboration with the University research team led by Professor Siggi Gudergan.
The survey reported around $2.6 billion on wages and more than $6.5 billion on goods, services and community contributions had been spent in NSW over the last financial year.
Direct spending on wages was highest in the Hunter Valley at around $1.3 billion, followed by the Central West at $369.5 million, Sydney at $300 million, the Illawarra at $286 million and Northern NSW at $125.3 million.
The Hunter also received the highest level of direct spending on goods, services and community contributions at $3.3 billion, followed by Sydney at $1.5 billion, Illawarra at more than $670 million, Northern NSW at $563 million and the Central West at $489 million.
When broken down by ABS region, the survey found that direct and indirect mining industry spending contributed around 26.5 per cent of the Gross Regional Product (GRP) of the Hunter, 16 per cent of the GRP in the Central West, 15 per cent of the GRP in Northern NSW, 11 per cent of the GRP in the Illawarra, and 11 per cent of the GRP of the Far West of NSW.
Read more in the Newcastle Herald: Hunter the big spender on mining