It’s been long known by Hogsback that the great city of Sydney hosts more than great beaches, pubs and many opportunities to sip cappuccinos and watch the passing parade.
Now research by the venerable folk at the University of Wollongong have confirmed it.
The total direct mining spend in the broader Sydney region was $2.8 billion in 2015 financial year, accounting for 25% of the state’s total mining spend, according to an Economic Impact Assessment report by the University of Wollongong.
This makes Sydney NSW’s second largest mining region.
NSW Minerals Council CEO Stephen Galilee said: “Significantly, the research shows that 6% of jobs in the Sydney Local Government Area are supported in some way by mining activity in other parts of NSW.”
The NSW mining industry has shown significant resilience over the past year despite difficult market conditions.
“This report, completed for a fourth year, demonstrates the importance of mining to the NSW economy, even during tough times for our sector,” Galilee said.
The 23 participating mining companies directly injected $11.3 billion into the NSW economy in 2014/15, including $2.7 billion on wages and salaries to 21,265 full-time employees, and $7.3 billion on purchases of goods and services with 7,694 local NSW businesses.
Mining contributed to Sydney’s $5.3 billion in additional supply chain goods and services purchases and $1.9 billion in wages and salaries.
The Hunter remains the beating heart of the state’s mining sector, accounting for $4.8 billion or 42% of this direct expenditure by mining in NSW.
NSW’s minister for Resources and Energy states emphatically that the royalties delivered by mining also help fund schools, hospitals, roads and other crucial infrastructure that the people of NSW use every day.
It remains amazing to Hogsback that after five years of belt tightening, lower prices and mass layoffs that coal remains the economic power house for the state of NSW and will effectively underwrite the ambitious and much needed infrastructure program currently being rolled by the state government to alleviate Sydney’s notorious traffic problems.
It is not only the miners and their families in the coal producing regions of Australia that benefit from a healthy mining industry.
While the federal politicians are in full election mode kissing babies and attempting to look concerned about the many grievances endured by residents of Sydney, they should think twice about talking up the destruction of the coal mining industry.
Hogsback thinks that it would pay dividends for residents of the major cities like Sydney – where most Australians live – if politicians provided a solid legal framework for mining companies to get on with their business of cutting coal and providing the revenues to improve the lives of average Australians.