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Whitehaven Coal Limited : Annual Report 2013
35 Whitehaven Coal Limited Annual Report 2013 4.1 OUR APPROACH TO MAXIMISING THE ECONOMIC BENEFIT FOR THE COMMUNITY We want to ensure that our presence delivers the communities in which we operate with the greatest net bene t possible. We understand that it is not just bringing the bene ts that assist the region, but the way we conduct ourselves in bringing those bene ts. By far the biggest economic contribution we make is the provision of long-term employment in the communities we operate in. In FY2013 our total payroll expenditure to direct employees was $85.9 million. We are committed to supporting our local workforce, and we endeavour to source local goods, equipment and contractors, wherever possible. Local suppliers are encouraged to lodge their credentials with the Company so that we can better understand how we can support them build their businesses. We have presented to numerous business groups and forums to assist them in understanding what Whitehaven requires from its suppliers and contractors. 4.2 OUR PERFORMANCE Overview Economically, our contribution to the region continues to grow. Total operating expenditure in producing coal was approximately $487.4 million in FY2013. Royalties paid directly to the NSW Government in FY2013 were approximately $40.9 million. In addition to this, we continue to support a wide range of community organisations with more than $100,000 donated during FY2013. On top of this, more than $18 million has been committed or provided to local infrastructure and community initiatives as part of our Voluntary Planning Agreements5 with local councils. All of these local commitments are detailed further in the community section of this review on page 54. Further information on the economic bene ts of each of our projects are detailed in the Environmental Assessments for each project and are available on our website. www.whitehavencoal.com.au/environment.cfm 5 As part of its approval process, Whitehaven is required to enter into Voluntary Planning Agreements with local government. Guidelines are set down for the quantum of these payments. In Whitehaven's case we have entered into agreements that are well in excess of the stated guidelines. See section 6 of this document for further information. Our recently approved Maules Creek project is about to commence construction. It will create: • Employment of up to 470 full-time employees during operation. • Employment of more than 240 full-time equivalent contractors during the construction phase. • Expected royalty payments to the NSW Government over the rst 21 years of more than $4.4 billion.* • $1.9 billion in annual direct and indirect output or business turnover in the regional economy.* • $2.8 billion in annual direct and indirect output or business turnover for the NSW State economy.* • $54 million in annual household income.* • Voluntary Planning Agreement commitments (in excess of government requirements) of $13 million to Narrabri Shire Council including $6 million towards road and infrastructure upgrade projects and $5 million toward the upgrade of the Narrabri airport. • An annual payment to Narrabri Shire Council of approximately $800,000 at full production * Figures provided by Gillespie Economics for the Maules Creek Coal project Environmental Assessment 2011. Full report is provided in Appendix Q of the Maules Creek Environmental Assessment 2011. Case Study What Maules Creek means for the economy 4 Economic Impacts
Annual Report 2012