NEW England is in the midst of a mining boom, with the industry injecting $310m into the local economy in the last financial year.
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While coal prices took a hit last year, it did nothing to stop growth in the region – in 12 months, the mining industry’s contribution to the regional economy rocketed from 4.3 per cent to 7.1 per cent.
At the same time, mining jobs rose by almost 300 positions, going from 780 to 1070.
The $310m injected into the New England economy by 23 mining companies during the 2015/16 financial year was up by $89m on the previous financial year.
That money included $111m in wages and $186m in purchases from 650 local businesses, along with $40m in community contributions and payments to local governments.
The stats come from the latest expenditure survey by the NSW Minerals Council, which revealed the industry’s contribution to each local government area (LGA).
In the Gunnedah LGA, mining now accounts for more than half of the region’s gross regional production, rising from 32.1 per cent to 52.6 per cent, and employs almost 500 people.
These results are tangible evidence of the positive contribution that responsible mining can make to local communities.
- NSW Minerals Council CEO, Stephen Galilee
Mining activity in the Narrabri LGA almost doubled in the last financial year and now makes up more than 20 per cent of its economy.
While no mines are located within the Tamworth LGA, mining companies spent almost $38m in the region.
NSW Minerals Council CEO Stephen Galilee said the survey figures demonstrated the importance of the mining industry to local communities across the New England region.
“It’s great to see more local jobs being created and also very pleasing to see more local businesses becoming part of the local mining supply chain and sharing in a big increase in local mining spending,” Mr Galilee said.
“These results are tangible evidence of the positive contribution that responsible mining can make to local communities.”