NSW Government confirms importance of coal to NSW economy

August 06, 2014

The NSW Government’s strategic statement on coal, released today, recognises the importance of a strong coal mining sector to the NSW economy and provides clarity as to the government’s policy direction on coal mining. 
Today’s statement on the importance of coal to NSW will be welcomed by coal miners who have been doing it tough over the last 18 months.  It will help improve certainty within the industry, making our state a more attractive place to invest, and that means more jobs in the future,”  NSW Minerals Council CEO, Stephen Galilee said today.
“The NSW Government’s statement recognises the many benefits coal delivers to NSW, including economic stability and jobs in regional NSW as well as the manufacturing areas of Sydney, providing a reliable and cost effective source of electricity for NSW households, providing the state’s largest commodity export, and paying around $1.3 billion a year in royalties to the government.”
“The NSW Government’s commitment to an evidence-based approach to decisions on the release of coal areas and mixed land use is therefore encouraging, as is the commitment to a regulatory regime that is comprehensive, robust and streamlined.  
“Delays to mining approvals due to a cumbersome regulatory regime have been a significant contributor to recent industry and investor uncertainty.  This has impacted on jobs, with over 3,000 coal mining jobs lost in NSW over the last two years,” he said.
“With over 21,000 people directly employed in coal mining in NSW it’s important that the newly formed Coal Allocation Steering Group moves quickly to deliver certainty and transparency on these issues for the future.” 
Contact: Chris Rath | crath@nswmining.com.au | 0409 758 734 | 02 9274 1419

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