The rate has been lowered from 3.5% to 3.2% of wages, making a 72% reduction since 2002-03.

Resources Minister Chris Hartcher welcomed the news as a positive sign for the NSW mining industry at a time when other workers compensation jurisdictions were increasing rates.

In 2001/02 some 25% of industry employees sustained a workplace injury compared to 7% now, according to Coal Mines Insurance’s parent body Coal Services, which is jointly owned by the NSW Minerals Council and the Construction Forestry Mining and Energy Union.

This is a more than a 70% reduction in injury rates over that period, Coal Services managing director and chief executive officer Lucy Flemming said.

The Coal Mines Insurance Scheme, which turns 90 this year, had also had a significant impact on these results, delivering sustained improvements in injury and claims management activities, which had resulted in favourable improvements in the experience assumptions employed by the Scheme Actuary, she said.

“This reduction, like those made in the past, would not be possible without the ongoing commitment of all involved in the NSW coal mining industry to make this industry as safe as possible,” she said.

“Coal Services’ driving purpose is to work in partnership with the NSW coal industry to ensure we are protecting the safety, health and wellbeing of this industry and its workers.

“These results should provide assurance to the workers’ families and their communities that we are all committed to working together to ensure they continue to come home safe and healthy when their work day is over.”

NSW Minerals Council CEO Stephen Galilee said the rate reduction recognised the world-leading safety record of NSW coalmining and would also improve the state’s attractiveness as a minerals investment destination.

“Safety is the number one priority of the NSW minerals industry and it is great to see Coal Services working closely with industry, unions and government to improve health and safety outcomes for our coal sector,” Galilee said.

“Average figures over the last five years show that fatal injuries have fallen by 37.5%; lost time injuries have fallen by 53.9%; and serious bodily injuries have fallen by 48.5% across the mining industry.

“This is a win-win situation. As safety rates continue to improve, insurance rates come down, helping the NSW coalmining sector become a more attractive place to invest in a globally completive environment.”