NSW slips well behind other boom states

New national figures show that while Western Australia and Queensland are growing strongly, NSW is barely moving.

Figures from Australia's National Account show that WA has recorded growth rates of 13.6% over the last year, while Queensland saw 7.8% growth.

However NSW only recorded a meager 2.1% growth over the same period.

The NSW Minerals Council CEO Stephen Galilee said the state is missing an opportunity, and the figures from WA and QLD show what can be achieved with a stronger support for the development of mining.

“The National Account figures show that WA and QLD are reaping the benefits of supporting their local mining industry, while NSW is missing out,” Galilee said.

“Mining activity drives economic opportunity across many other sectors of the economy and coal is the State’s biggest export. If the NSW economy is to grow, mining must be supported by sound policies that foster responsible development of our valuable mineral resources.

“It is in the public interest to ensure the benefits are maximised to drive investment, growth and jobs here in NSW, as well as delivering royalties for the NSW Government.

His comments come ahead of NSW's State Budget release;

Galilee called on the O'Farrell Government to strengthen its commitment to the sector.

“Infrastructure investment in our mining regions, funding for exploration, and certainty around royalties must be priorities. It is critical that government investment in public infrastructure and services in mining regions keeps pace with growth,” he said.

“The NSW mining industry has for a long time played an important role in providing much needed regional infrastructure and services through Developer Contributions and Voluntary Planning Agreements. Mining industry contributions to community infrastructure in NSW have been estimated by ACIL Tasman to be around $109 million annually.

“It is important that The NSW Government’s second Budget recognises the contribution mining communities are making to the State economy and Budget by providing real funding for essential infrastructure and services in our mining regions.

The mining industry in NSW is currently worth around $20 billion, and will generate royalties of around $8.5 billion over the next four years.

Mining is also generating thousands of new jobs across the Hunter, Illawarra, Central West and New England North West regions.

“Supporting the responsible development of mining in our State will grow and diversify our State economy, deliver more jobs and royalties, and underpin regional development across NSW.”

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