WA resources sector adds $83bn to economy

The survey asked 65 CME member companies how much they contributed and where with the annual economic factsheets produced from the report showing the direct contribution to the state economy was $51.98 billion.

More than $47.9 billion was spent by CME member companies on purchasing goods and services from 14,718 businesses, while financially supporting 774 community organisations and 68 local governments nationally.

More than $10 billion in wages and salaries was paid to 69,475 full-time workers, which included 65,170 in Western Australia and 4305 throughout the rest of Australia.

Those member companies also employed a further 24,665 full-time contractors nationally.

A total of $7.71 billion was contributed in Western Australia Government payments, with more than $18 billion contributed to the federal government.

The analysis also found supply chain spending by the 65 member companies created an additional 214,999 full-time jobs and generated $38.9 billion in gross value add to the Australian economy.

According to the report factsheets, part of this value was created through the demand for construction, exploration, mining support, financial and other goods and services.

CME chief executive Paul Everingham said the results showed the extent that the Western Australian mining and resources sector underpinned economies and communities around the state, and across Australia.

“The resource sector workforce should be extremely proud of the way our sector has been able to operate both safely and effectively during the COVID-19 pandemic,” Everingham said.

“What this really shows is that every community in WA has people living there who work in our sector, and local businesses who benefit from and supply of goods and services to it.

“Both the direct and indirect contributions of CME’s member companies spread far and wide throughout communities around WA and, indeed, across Australia.”

The data collected covers more than 150 operational sites across Western Australia, representing 70 per cent of the Western Australian resources sector by production.