New South Wales has the potential to fortify its economic recovery by approving the 32 mining projects that are sitting in the NSW planning system.
Research from the NSW Minerals Council has revealed that the mining industry, which is the state’s largest exporter, can provide a $13 billion investment and over 15,000 jobs once the 32 projects are approved.
“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,” NSW Minerals Council CEO Stephen Galilee said.
The research found that the regional economic benefits include capital investments in excess of $2.7 billion in the Hunter Valley; $2.1 million in the Illawarra; $3.6 billion in the Central West; $2.7 billion in the Far West; $470 million in the Lithgow/Mudgee Region; and $1.5 billion in the Gunnedah Region.
NSW’s projects have increased by seven this year (32) compared with the previous November 2018 report, which had 25.
In the latest report, the NSW Minerals Council found 21 are coal projects and 11 are metals projects, with the increase growing from a doubling of proposed metals projects in the NSW mining sector in the past two years.
“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 percent of all major mining projects proposed in NSW, up from 20 percent 18 months ago,” Galilee said.
“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.”
New South Wales’ mining industry directly employs 40,000 people, according to the Australian Bureau of Statistics.