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Mining investments worth $13B invigorate NSW economy

  • Posted on Thursday 23rd, July 2020.

A project pipeline valued at almost $13 billion is expected to drive New South Wales' economic recovery according to recent research findings.

There are reported to be 32 mining projects at various stages in NSW's planning system.

“These projects have the potential to deliver almost $13 billion in investment and over 15,500 jobs for NSW to help support and rebuild the economy and boost regional development across the state,” said NSW Minerals Council CEO, Stephen Galilee.

The research, completed by the NSW Minerals Council, has analysed the potential economic benefits of all major mining projects currently in the NSW planning system, from initial EIS submission stage to approved projects still seeking related conditional agency approvals before mining can commence.

The potential regional economic benefits to be delivered include:

  • More than $2.7 billion in capital investment and around 3,700 jobs in the Hunter.
  • More than $2.1 million in capital investment and nearly 2,000 jobs in the Illawarra.
  • More than $3.6 billion in capital investment and nearly 2,500 jobs in the Central West.
  • More than $2.7 billion in capital investment and more than 2,500 jobs in the Far West.
  • More than $470 million in capital investment and more than 1,100 jobs in the Lithgow/Mudgee Region.
  • More than $1.5 billion in capital investment and more than 2,500 jobs In the Gunnedah Region.

These 32 projects represent an increase of seven from the 25 projects covered in the last report released in November 2018, with the increase coming mainly from a nearly doubling of proposed metals projects for the NSW mining sector over this period.

The November 2018 report identified 25 projects in the project pipeline, comprising 19 coal projects and six metals projects.

Of the 32 projects identified in our latest report, 21 are coal projects and 11 are for metals projects.

“While the number of coal projects has risen slightly, the number of proposed metals projects has almost doubled from six to 11, representing over 30 per cent of all major mining projects proposed in NSW, up from 20 per cent 18 months ago," said Galilee.

"This is an opportunity to further build and diversify the NSW mining sector and represents a strong industry response to the release of the NSW Government’s Minerals Strategy in early 2019.

“Overall, these 32 project proposals demonstrate how the NSW mining sector can deliver billions in investment, thousands of jobs and economic growth needed to help rebuild our state in the years ahead, and with the right policies in place to support mining we will do so," he said.

In other news, Adani awarded the construction of its coal handling plant to a Perth-based mechanical engineering firm.

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