MONEY-SPINNER: The Boyne Smelters contributes a significant amount to Australia’s economy.
MONEY-SPINNER: The Boyne Smelters contributes a significant amount to Australia’s economy. Contributed

Study shows $1.4b contribution to GDP by Boyne Smelters

A NEW study has highlighted the significant social and economic contribution Boyne Smelters makes to Australia, Queensland and the Gladstone region.

The study found Boyne Smelters contributes more than $1.4 billion annually to Australia's gross domestic product, with more than half of this economic benefit going to the Gladstone region.

The study also found the smelter employs about 1000 people, and indirectly supports about 6700 jobs nationally with 3000 of these jobs in the Gladstone region.

Key findings from the study were released at the tenth annual Gladstone Engineering Alliance Major Industry Conference presented by Golding Contractors.

Speaking at the conference, Boyne Smelters general manager Joe Rea said everyone working at Boyne Smelters was proud of the social and economic contribution of the business.

"The smelter's supply chain is a great Queensland story, with bauxite sourced in Weipa and converted to alumina in Gladstone and aluminium made using electricity generated with Queensland coal," he said.

"While we are a global business facing extremely tough market conditions we continue to buy locally.

"One thousand of our 1200 suppliers are Australian companies and almost three quarters of our spending on goods and services is right here in Gladstone.

"Boyne Smelters is Australia's largest aluminium smelter and has been operating for more than 30 years.

"Our aim is to work with employees, suppliers and other stakeholders to drive down costs, improve productivity and continue being an economic powerhouse beyond 2030."