Mining Contributes $42.5 Billion in Taxes to Australian Economy

The report signifies the impact of the mining sector in propelling the Australian economy forward.

An overall view of the Cadia mine in New South Wales, Australia, on on Jan. 8, 2010. Jacky Ghossein/AFP via Getty Images

Australia’s mining sector contributed $42.5 billion (US$28.3 billion) in company tax and a decade-high $31.5 billion in royalties for the 2022-23 fiscal year, according to Ernst and Young’s report, commissioned by the Minerals Council of Australia.

The mining lobby group said that the report shows the impact of the mining sector in propelling the Australian economy forward.