Coal bolsters NSW economy

THE contribution of mining royalties to New South Wales must not be overlooked with royalty revenue being revised up by $108 million in 2016-17, according to Association of Mining and Exploration Companies CEO Simon Bennison.
Coal bolsters NSW economy Coal bolsters NSW economy Coal bolsters NSW economy Coal bolsters NSW economy Coal bolsters NSW economy

Peabody Energy's Wambo underground mine in NSW.

Lou Caruana

This was primarily due to the expectations for higher coal prices in the future, he said.

“Today’s figures show that mining is a key part of New South Wales economy,” Bennison said.

“It is critical the NSW government prioritises getting the policy settings right to encourage the discovery and development of the mines of tomorrow.”

The NSW government’s strong financial management has been recognised by a Triple A credit rating, virtually no debt and four budgeted surpluses.

If NSW wants to maintain its strong financial position in the future speeding up the approvals process would certainly help.

 

This would encourage “investment, jobs and create the mines of tomorrow,” Bennison said.

topics

loader