121,700 jobs and counting - Victorian mining and METS sector

New analysis busts the myth that mining is part of Victoria’s past.

Analysis by Deloitte Access Economics found the overall total economic contribution of Victoria’s mining and mine equipment, technology and services (METS) sector to the state’s economy was $13.6 billion in valued added in 2015-16.

This represents 4 per cent of the state’s economic activity and 121,700 Victorian jobs.

Victoria’s mining and METS footprint includes the corporate offices of Melbourne-based global mining companies and equipment and professional services companies supplying the industry.

It extends to coal operations in the Latrobe Valley as well as export-focused engineering and manufacturing firms in Geelong, Bendigo and Ballarat and gold and mineral sands projects across the state – regional businesses investing and employing in regional Victoria.

Commissioned by the Minerals Council of Australia, the Victorian analysis forms part of the Deloitte Access Economics report Mining and METS: engines of economic growth and prosperity for Australians.

Deloitte Access Economics applied a similar method to the Reserve Bank’s 2013 Research Discussion Paper Industry Dimensions of the Resource Boom: An Input-Output Analysis.

Release of the Victorian analysis is a timely reminder of the importance of the mining and METS sector to Victoria’s ongoing prosperity.


Download complete article