Impact and Contribution
Yancoal is committed to supporting the economic development of the communities in which we operate, as well as being a responsible contributor to local and regional economic development.
We contribute to economic development through a variety of methods. These include the payment of taxes and royalties to state and federal governments, local procurement, local employment and voluntary investment in programs and initiatives that make a genuine positive difference and lasting change to local communities. We also recognise our wider indirect economic impacts, such as those generated by our business supply chain expenditure and consumption-induced spending in our key regions.
DIRECT ECONOMIC CONTRIBUTION IN 2019 INCLUDED:
• $551 million in wages and salaries to approximately 4,364 full time resident employees, representing an average salary level of approximately $126,000 per annum. In addition, there were 600 full time equivalent contract workers engaged by Yancoal
• $35 million in local government payments (including rates, developer and other contributions)
• $3.1 billion in purchases of goods and services from over 4,800 local businesses, with an average spend per supplier of approximately $638,000.
• $681 million in state and federal government payments (including royalties, stamp duty, payroll tax and land tax).
• Almost $1.6 million in voluntary contributions to 181 community organisations across Australia
TOTAL INDIRECT & DIRECT ECONOMIC CONTRIBUTION IN 2019 INCLUDED:
• $8.6 billion in total economic, value-added impact ($4.2 billion in direct impact and $4.4 billion in supply chain and consumption effects)
• $9.3 billion in output/turnover (a measure of direct and supply chain purchases from businesses)
• $3.2 billion in income (wages and salaries) paid to 43,372 full time equivalent jobs supported across Australia
A full overview of economic impact of Yancoal operations across various regions and states is outlined in the Economic Impact Assessment Report.