Mining spending hits new record in the North West

Mining companies have injected more than half a billion dollars into the North West economy over the past financial year, according to the latest annual Member Expenditure Survey from the NSW Minerals Council.

The survey confirmed mining’s continued economic significance across the region, which includes Narrabri, Gunnedah, Tamworth, Liverpool Plains and surrounding areas.

Participating mining companies directly injected $542 million into the regional economy during the last financial year — the second-highest result ever recorded.

It also marked the sixth consecutive year direct mining spending in the region has exceeded $300 million.

The same companies supported more than 3,250 jobs locally, representing an increase of nearly 2,500 jobs since the survey began in 2012.

Of the $542 million in direct spending, almost $276 million went to wages and salaries, while $266 million was spent on goods and services purchased from more than 460 local mining supplier businesses.

The survey found mining delivered strong contributions across several local government areas. In the Tamworth LGA, mining provided more than 380 jobs, spent $122 million locally and supported 121 supply businesses.

In the Gunnedah LGA, mining accounted for 908 jobs, $277 million in direct spending and support for 176 local suppliers.

Meanwhile, in the Narrabri LGA, the sector provided 424 jobs, spent $103 million and supported 105 local businesses.

Overall, the $542 million in direct mining expenditure is estimated to have contributed 5.4 per cent of the region’s Gross Regional Product.

“Mining operations in the region have maintained local spending records while supporting over 3250 local mining jobs, highlighting the importance of mining for local communities and the region’s economy,” NSW Minerals Council chief executive officer Stephen Galilee said.

“The ongoing strength of the mining industry continues to provide a solid foundation for the region’s economy, and with the right policy settings this can continue for many years to come.”