Mining has injected over $1 billion into economies across the Central West and that spending boom helped provide "strength and stability" to the region throughout the COVID-19 pandemic, a new survey has revealed.
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NSW Minerals Council CEO Stephen Galilee believes that billion-dollar windfall - up $100 million on the previous term - throughout the 2020-21 financial year demonstrates how important the mining sector is to cities like Orange.
The report, based on the Central West and taking in other mining towns like Parkes and Mudgee, revealed $1.1 billion was injected directly into the region's economy in 2020-21, representing the highest spending result reported in a decade.
That figure comes from the NSW Minerals Council's latest annual Member Expenditure Survey, which examines the output of 28 participating mining companies, including Newcrest's Cadia Valley Operations, in the last financial year.
"These results demonstrate how mining was able to provide economic strength and stability to the Central West at the height of the COVID-19 pandemic," Mr Galilee said.
The survey found in the last financial year participating mining companies supported 5568 mining jobs in the Central West - an increase of over 600 on the previous year and the highest result reported in the 10 year history of the survey.
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The $1.1 billion of direct mining spending in the Central West in the 2020-21 financial year included more than $396 million spent on wages and salaries, as well as almost $673 million for goods and services purchased from 985 mining supplier businesses across the Central West region.
The 985 businesses reported as part of the region's mining supply chain was down slightly from 1059 in the previous year, reflecting the difficulties faced by many businesses across NSW due to COVID-19.
A Newcrest Mining Cadia Valley Operations spokeswoman said the report commissioned by NSW Mining showcase is representative of a continued investment into the region by mining.
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"Over the life of our operation, our Cadia East Project Approval predicted an annual $1 billion regional output into the local community, and support more than 1889 direct and indirect jobs," she said.
"With a current operational approval until June 2031 and an indicative mine life of around 45 years, Cadia will continue to underpin investment in the Central West for many years to come."
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Tanya Marschke
I am based at Orange and cover a wide range of subjects as well as the weekly business column. I've worked consistently in the the media industry since 2006 including the past seven years at the Central Western Daily. Before moving to Orange, I worked as a journalist at weekly newspapers the Beaudesert Times and the Gold Coast Sun in Queensland, as well as the Scone Advocate in the Hunter Valley. I started my career at the Ridge News in Lightning Ridge while I completed my journalism studies remotely at Charles Sturt University in Bathurst.
I am based at Orange and cover a wide range of subjects as well as the weekly business column. I've worked consistently in the the media industry since 2006 including the past seven years at the Central Western Daily. Before moving to Orange, I worked as a journalist at weekly newspapers the Beaudesert Times and the Gold Coast Sun in Queensland, as well as the Scone Advocate in the Hunter Valley. I started my career at the Ridge News in Lightning Ridge while I completed my journalism studies remotely at Charles Sturt University in Bathurst.
