3 Reasons the NSW Minerals Council is Vital to the Mining Industry in Australia
The NSW Minerals Council is the leading industry association representing the minerals industry in New South Wales, providing a united voice for its members. Here are three reasons why the association is so important to the mining industry in Australia.
1. They have the resources to make a difference
Mining has and will continue to be a key economic driver for the state. That’s why the NSW Minerals Council works closely with government, industry groups and business and community leaders to foster a sustainable mining industry in NSW.
The NSW Minerals Council supports the development of a strong and diverse state economy and an effective regulatory framework in which the industry can operate profitably and make a meaningful contribution to the state and the people of NSW.
2. Their members include some of the largest mining companies in NSW
Every year the NSW Minerals Council surveys its members to determine the economic benefits of mining to NSW. The results for 2013-14 will be released in November.
In 2012-13 the survey found that 26 NSW Minerals Council member companies directly spent around $12.8 billion on wages, goods, services and community contributions in NSW. This direct spending included $3.1 billion spent on the wages and salaries of over 23,000 mining workers, and over $9.7 billion in spending on goods and services with over 10,500 local businesses across the state.
When broken down by ABS region, the survey found that direct and indirect mining industry spending contributed around 36 percent of the Gross Regional Product (GRP) of the Hunter, 19 percent of the GRP in the Central West, 30 percent of the GRP of the Far West of NSW, 17 percent of the GRP in the Illawarra and 4 percent of the GRP in Northern NSW.
3. They understand the economic benefits of NSW mining
Mining is an integral part of the economic and social fabric of NSW, particularly rural NSW. Mining has been part of our state for more than 200 years, providing jobs, independence and wealth. No state has played a more prominent role in the history of Australian mining than NSW. Coal mining in Australia began near Nobbys Head in Newcastle in the 1790s, with the first coal shipment leaving Newcastle in 1799.
“It’s true, NSW mining has had a tough 18 months, with a fall in commodity prices, a stubbornly high Australian dollar and uncertainty with regard the NSW planning approvals regime. However, mining does have a bright future in our state and will continue to deliver jobs and economic stability to regional communities across the state,” NSW Minerals Council CEO Stephen Galilee said.
“Our state has some of the best quality coal and minerals in the world. We have an experienced and highly accomplished mining workforce, and the world’s largest coal export port. So while mining in NSW is experiencing short-term challenges, the long term prospects are good, provided we can continue to meet the future demand,” Mr Galilee said.
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.