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MINING INDUSTRY 2015-16
The Mining industry contracted across most key indicators in 2015-16. Earnings before interest, tax, depreciation and amortisation (EBITDA) decreased 17.5% ($12.9b) to $60.8b in 2015-16, with the largest decreases in Metal ore mining (17.3% or $7.3b) and Oil and gas extraction (27.8% or $6.6b) related to falling commodity prices. These price reductions caused the Mining division Export Price Index to fall by 17.3% between 2014-15 and 2015-16. Employment and wages and salaries also continued to decline over this period.
Footnote(s): (a) Includes rent, leasing and hiring income. (b) Includes capitalised wages and salaries, salary sacrificed amounts and other remuneration; excludes the drawings of working proprietors. (c) Includes working proprietors and partners of unincorporated businesses.
Source(s): Australian Industry (cat. no. 8155.0)
2015-16 KEY MINING INDUSTRY FIGURES
Employment in the Mining industry fell by 8.0% (14,186 people) with this contraction spread across almost all components of the industry. Exploration and other mining support services fell the furthest, reducing by 13.8% (4,814 people), while Oil and gas extraction fell 15.9% (3,613 people) and Coal mining decreased by 8.3% (3,372 people).
Sales and service income and EBITDA in the Mining industry declined in 2015-16 by 11.4% ($24.4b) and 17.5% ($12.9b) respectively. In both cases the majority of the decrease came from the Metal ore mining and Oil and gas extraction subdivisions. Lower sales figures for Metal ore mining were mainly the result of a large fall in iron ore prices, illustrated by a 17.2% fall in the Metal ore mining subdivision Export Price Index between 2014-15 and 2015-16. Similarly falling oil prices had a negative impact on the sales and service income reported for Oil and gas extraction. The Export Price Index for Petroleum, petroleum products and related materials fell by 33.5% between 2014-15 and 2015-16.
The estimates in this publication are not adjusted for situations where businesses report to the ABS on an off-June reporting year and can be impacted by price fluctuations. This particularly impacts on estimates for the Mining industry where reporting largely reflects the calendar year 2015. For estimates adjusted to a June financial year basis, see the 'Off-June adjusted estimates by subdivision' data cube, and for more information about the impact of off-June reporting on estimates, see the Technical note on Off-June Year adjusted estimates in this issue.
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