May 30, 2020

Figures highlight mining industry strength

Figures highlight mining industry strength

Data released this week shows the scale of recent mining industry growth in Australia.

Mining earnings before interest, tax, depreciation and amortisation (EBITDA) for 2018-19 year increased by 32.2 per cent or $33.7 billion compared to the previous year, the ABS figures show.

Within that total figure, coal mining performed less impressively – with the EBITDA growing 12.8 per cent ($3.4b) compared to 41.9 per cent ($7.8b) in 2017-18.

Large export growth benefited the oil/gas extraction and metal ore mining industry subdivisions, with EBITDA increasing for these subdivisions by 73.3 per cent ($19.3b) and 21.0 per cent ($10.6b) respectively.

Employment for the mining industry in the same period increased by 10,000 people (5.9 per cent) driven by growth in the metal ore mining subdivision, which increased employment by 6000 people (9.0 per cent).

The construction industry, while still showing positive EBITDA growth of 5.4 per cent in 2018-19 ($2.5b), slowed from the previous year’s 8.0 per cent ($3.4b).

At the same time the manufacturing industry EBITDA grew 9.1 per cent ($3.3b) and and health care and social assistance industry EBITDA grew 7.2 per cent ($1.9b).

In contrast information media and telecommunications EBITDA fell 10.8 per cent (down $2.1b).