Jobs and royalties boost as Aurelia Metals Peak copper mine extension is approved

Mining is a key contributor to the local economy of regional communities right across NSW, including Cobar and surrounds.

The metals mining industry, in particular, is deeply intertwined with the history and development of so many communities in the Central West and Far West of NSW.

Now, with the rapid development of new technology, there is growing demand for our high-quality metals and rare earths.

In recognition of this, the NSW Government released the NSW Minerals Strategy in 2019.  The Strategy outlines opportunities for growth in the NSW metals sector and represents a road map to help improve the competitiveness of our state in attracting metals mining investment.

Most recently, the NSW Government has approved an application for a 10-year extension to Aurelia Metals’ Peak operations until 2035, securing ongoing employment for more than 400 mine workers.

Aurelia Metals plans to establish a new mining area next to the historic Great Cobar copper-gold deposit, first discovered during the Australian Gold rush in 1871.

Aurelia Metals Managing Director and Chief Executive Officer Dan Clifford said the extension is positive news for the state’s mining industry, the local community and hundreds of mineworkers and their families.

“The extension of our Peak Mine will secure a strong future for more than 400 employees and full-time contractors through ongoing employment, including 140 new jobs during construction,” Mr Clifford said.

“All this means a total of $600M in direct and indirect wages and salaries to be paid to workers in NSW, as well as an additional $240M payable to the government in royalties and taxes.

“It’s welcome security for not only our workforce, but also local businesses who supply the Peak Mine, their families, and their communities,” Mr Clifford said.

“The state government’s project approval is a sign of confidence in the strong demand for copper, which is a critical mineral for our transition to a low carbon economy,” Mr Clifford said.

NSW has historically been a significant producer and exporter of copper and gold and there are strong future prospects for a range of other minerals to be developed.  Our state boasts high-quality deposits of silver, lead, zinc, and also cobalt, nickel, scandium, and mineral sands that are of increasing interest and demand globally.

The Central West and Far West regions of NSW, especially communities like Cobar, have much to benefit from the growth in the minerals industry in the coming years.