New research has revealed that 25 mining projects currently in the NSW planning system have the potential to deliver almost $11 billion in investment and over 13,000 jobs over the next two decades.
The 25 projects include new projects and extensions and modifications of existing operations.
The research released by the NSW Minerals Council quantifies some of the economic benefits these projects will deliver to NSW:
- Almost $11 billion in capital investment in NSW, driving economic activity across the State, including in regional areas;
- Creating or maintaining over 13,000 direct construction and operation jobs along with tens of thousands more jobs in businesses that support the mines;
- From 13 of the 25 projects, over $2.6 billion in royalties for NSW and millions more through income taxes, local community contributions as well as resources for regions, all critical in helping to fund schools, hospitals, police, infrastructure and other services across the State.
“There are over 25 mining projects currently at various stages of the planning assessment process with the potential to deliver almost $11 billion in investment to NSW and over 13,000 jobs over the next two decades,” NSW Minerals Council CEO, Stephen Galilee said today.
“These 25 projects represent significant potential opportunities for NSW. These and more projects are needed to ensure NSW has the future production capacity to meet forecast demand,” Mr Galilee said.
- In the Hunter, nine projects in the pipeline would deliver over $1.5 billion in investment and maintain or create over 3,400 jobs for the region.
- In the Illawarra, four projects in the pipeline would deliver over $870 million in investment and maintain or create nearly 1,700 jobs for the region
- In the Central West, three new projects would deliver over $3.0 billion in investment and maintain or create over 2,100 jobs.
- In the Lithgow/Mid West region, seven projects would deliver over $1.6 billion in investment and maintain or create over 2,200 jobs
- Two projects in the Gunnedah region would secure over $1.5 billion in investment and maintain or create over 2,100 jobs.
“NSW has a limited number of large scale metals mining operations, with some forecasts predicting this will fall sharply beyond 2025 without the discovery of new mineral resource and development of new mining operations to replace existing production.” Mr Galilee said.
“In terms of coal, new mining projects will be essential if NSW is to meet the growing demand for high quality coal in Southeast Asia. The latest research from the independent International Energy Agency estimates that while global growth in coal demand remains steady, growth in demand for coal in the Asia Pacific will increase by 492 mtce (million tonnes of coal equivalent) by 2040.”
“Without a stable and certain policy environment that supports the mining sector, the economic benefits will be lost to NSW. New jobs and investment will go elsewhere, potentially to other states where governments are actively pursuing new mining investment.”
“NSW is blessed with high quality resources combined with strong and growing demand in our region. The future of the NSW mining industry and our mining communities is linked to our ability to meet the growing demand. This will require policies that support our export sector and the tens of thousands of people working in mining and related jobs here in NSW,” he said.
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