New research by the NSW Minerals Council has revealed that mining has the potential to significantly boost the NSW economic recovery, with 32 mining projects currently at various stages.
“These projects have the potential to deliver almost AUS$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, 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:
- In the Hunter, over AUS$2.7 billion in capital investment and approximately 3700 jobs.
- In the Illawarra, over AUS$2.1 million in capital investment and nearly 2000 jobs.
- In the Central West, over AUS$3.6 billion in capital investment and nearly 2500 jobs.
- In the Far West, over AUS$2.7 billion in capital investment and over 2500 jobs.
- In the Lithgow/Mudgee Region, over AUS$470 million in capital investment and over 1100 jobs.
- In the Gunnedah Region, over AUS$1.5 billion in capital investment and over 2500 jobs.
These 32 projects represent an increase of 7 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 6 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 6 to 11, representing over 30% of all major mining projects proposed in NSW, up from 20% 18 months ago.
“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.”
Read the article online at: https://www.globalminingreview.com/mining/23072020/32-mining-projects-to-drive-nsw-economic-recovery/