“This is a record value of advanced projects and, at 91, the number of projects is also at a historically high level,” ABARE executive director Phillip Glyde said on releasing the report “Minerals and Energy: Major Development Projects – April 2007 Listing”

In total there were a record 279 major projects in the April 2007 listing. Of those, 188 projects were at less advanced stages and still undergoing feasibility studies. A total of 23 projects have been completed and 43 projects have been added to the list since October 2006.

Glyde noted that the scarcity of skilled labour as well as increased materials and construction costs continue to have an impact on the timing and overall costs for some projects.

“Project cost pressures and delays are unlikely to ease in the short to medium term while this level of development activity continues,” he said.

While not all of the 188 less advanced projects will necessarily proceed to development, it provides another indicator of the strong growth prospects of the sector, ABARE said.