Mudgee’s economy received a boost over the 2015-16 financial year due to the mining industry, according to new statistics.
The NSW Minerals Council’s latest Expenditure Survey shows the region has seen an increase in mining spending and the number of mining jobs.
The survey covers the 2015-16 financial year, prior to the dramatic recovery in coal prices that has since boosted activity and confidence across the NSW mining sector.
The survey has found that in the last financial year, the 23 participating mining companies directly injected $303 million into the Mid-Western Local Government Area (LGA).
$22 million more than the previous financial year.
The $303 million in spending included $182 million in wages for 2,391 full-time employees – an increase of 65 jobs on the previous year – and $121 million in purchases from 313 local businesses, along with community contributions and payments to local government.
This direct spending was estimated to have contributed around 37% of the region’s Gross Regional Product (GRP) during the 2015/16 financial year, up from 29% in the previous year.
“It’s great to see this big increase in local mining spending in the Mudgee region,” NSW Minerals Council CEO, Stephen Galilee said.
“[The spending] results in more local jobs and an increase in spending with local businesses in the supply chain,”
“These survey results are tangible evidence of the positive contribution that responsible mining can make to local communities,” he said.
“Delivering jobs, investment and growth, and helping to build the economic strength of the entire Mid-Western region.”
Source: Mudgee Guardian, 2 March 2017
Link: http://www.mudgeeguardian.com.au/story/4499806/mining-jobs-and-spending-boost-in-region/
