At a recent presentation to the AIMEX mining conference in Sydney NSW Minerals Council CEO, Stephen Galilee highlighted promising signs of improvement for the NSW metals mining sector after a tough few years.
Gold and copper prices have increased, with gold up by 11% since January and copper up by 17% over the same period.
A number of new metals mining projects being developed across NSW also bode well for a healthy recovery for the metalliferous sector.
These include Regis Resources’ development of the McPhillamys gold project near Blayney in the Central West of NSW, and CleanTeQ’s development of its Syerston Nickel Cobalt Scandium Project, one of the highest grade and largest nickel and cobalt deposit outside of Africa. Silver Mines Limited is also seeking to develop the largest undeveloped silver deposit in Australia just east of Mudgee.
Heron Resources has re-opened the Woodlawn Zinc and Copper mine South of Goulburn. Each of these projects will create jobs and deliver economic growth for their respective regions.
Over the last 12 months to March 2017, the ABS has also reported an increase in exploration spending in NSW of 28% to US$36.7 million.
A strong metals mining sector is important for the NSW economy. It is also critical to the economic strength of many regional communities, particularly in the Central West and Far West of NSW.