NSW Government invests $37.7 million in mine safety and rehabilitation in 2024-25 Budget
The NSW Government’s budget measures aim to improve mine safety, rehabilitation, and long-term economic planning for regional NSW.
The State Government is boosting investment in mine safety and rehabilitation in regional NSW as part of the 2024-25 budget. This initiative aims to support mining communities, ensure mine sites are rehabilitated, and improve the health and safety of mine workers.
Budget Allocations
Total Investment: $37.7 million has been allocated to support these efforts.
Mine Rehabilitation: $13.6 million will be used over the next four years to rehabilitate mines, ensuring the land is safe and stable after mining ends. The government is committed to repurposing this land for regional economic use.
Regulatory Resources: Additional resources will be provided to enforce compliance with rehabilitation requirements and assist local communities.
NSW Resources Regulator: $1.6 million will go towards monitoring and enforcing work health and safety regulations in state mines. This funding is critical as rehabilitation activities increase and with 32 out of 39 coal mines expected to close by 2040.
Future Jobs and Investment Authorities
To help coal-producing communities transition, the government is establishing Future Jobs and Investment Authorities, funded with $5.2 million from last year’s budget. These authorities will advocate for these communities within the government. There is also a $22.5 million contribution to a statutory fund to support coal-producing areas as they move beyond coal.
Legislative Inquiry and Transition Planning
In May, the Minister for Natural Resources announced a Legislative Council inquiry into post-mine land use. This inquiry will look into new and innovative uses for land after mining ends, supporting future economic opportunities and community development.
Mining Royalty Revenues
Stephen Galilee, CEO of the NSW Minerals Council, emphasized the importance of mining royalty revenues for the state budget. With a $12 billion shortfall in GST revenues from the Commonwealth, mining royalties, expected to bring in $13.3 billion over the next four years, are crucial.
"The loss of $12 billion in GST revenue is a terrible blow for the NSW Budget. It also highlights the critical importance of the expected $13 billion in mining revenues over the same period, and just how damaging the loss of this revenue would also be for NSW," Galilee said.
Support for Mining Communities
The government is balancing the need to support current coal operations with planning for future economic changes. There are allocations for regional road upgrades and the Regional Development Trust.
