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NSW mining gets a Budget boost

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The New South Wales Government has announced additional investments in mine safety and rehabilitation in the 2024–25 NSW Budget.

A total strategic investment of $37.7 million will aim to support mining communities, ensure rehabilitation of mines and support health and safety for mine workers in NSW.

This includes $13.6 million over four years for mine rehabilitation, a key priority for regional communities.

This funding package increases dedicated regulatory resources to ensure compliance with rehabilitation requirements and provide support for local communities.

Inspectors at the NSW Resources Regulator will oversee a projected increase in rehabilitation activities.

The Resources Regulator will be supported with $1.6 million to monitor and enforce compliance for work health and safety requirements in the state’s mines.

In addition, the NSW Government is continuing to contribute $22.5 million to a statutory fund to support coal-producing communities for a future beyond coal.

NSW Minerals Council chief executive officer Stephen Galilee said the boost to the Budget is thanks to an increase in mining royalties.

Galilee said mining royalties are forecast to deliver the NSW government $13.3 billion over next four years, an increase of $481 million on previous estimates.

“This represents a record return for NSW from mining over the forward estimates, including $2.4 billion in additional royalty revenue over the next three years from higher coal royalty rates commencing in July this year,” he said.

Galilee is confident the hunger for coal is still strong, with new and existing mines expected to deliver benefits to communities and the Australian economy for years to come.

“There are nearly forty coal mines currently operating across NSW, including seventeen in the Hunter region, with most involved in export coal markets,” he said.

“Fifteen Upper Hunter mines either have approvals in place or are seeking approvals to continue mining to 2035 or beyond, with several seeking extensions to operate beyond 2040.

“This strong outlook provides time to plan for the future while the economic benefits and jobs continue.”

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