Release of NSW Government’s Critical Minerals Strategy

The NSW Minerals Council welcomes the release of the NSW Government’s Critical Minerals Strategy by Ministers Houssos and Scully today.

While it will be important to see some more details on several of the key initiatives, the high level whole-of-government commitment and general direction outlined in this Strategy is welcome,” NSW Minerals Council CEO Stephen Galilee said today.

“The NSW Government’s commitment to the sector stands in stark contrast to a federal government that blocks NSW mining projects based on secret whispers and public murals.”

The Strategy confirms the NSW Government’s vision for NSW to become a global leader in critical minerals production, and identifies a number of important steps required to ensure NSW has an opportunity to do so.

This includes the need for greater support for exploration, improvements to the NSW planning system, improved investment attraction efforts, and greater access to relevant federal government funding and programs.

The proposed royalty deferral initiative also has the potential to assist critical minerals projects. 

“It’s pleasing that this Strategy prioritises a range of specific actions to be undertaken over the short to medium term, and the medium to long term.” 

The Strategy has been released at an important time for the critical minerals sector in NSW. 

Thirteen NSW mines currently produce commodities included on the NSW Government’s Critical Minerals list, and there is the potential for more critical minerals operations in the future.

At least three more critical minerals in NSW projects are fully approved and currently seeking a combined investment of over $3 billion. These projects could provide over 2,000 jobs. 

Another three potential critical minerals projects are also currently under assessment in the NSW planning system. These projects have the potential to deliver over $700m of additional investment for NSW and over 1,000 jobs. 

At least six further potential critical minerals projects are currently preparing EIS applications, with the potential for more than $1.3 billion of further investment and over 1,500 new jobs. 

“Mining is a vital industry for NSW. The sector provides around 40,000 direct jobs and supports tens of thousands more jobs, including almost 7,000 mining supplier businesses across the state, while also providing NSW with its most valuable export commodities.”

“Support for the further development of critical minerals projects will help ensure mining continues to make an important economic contribution to NSW for generations to come.”