The Association of Mining and Exploration Companies (AMEC) is in support of the New South Wales State Budget for 2025, which has allocated $17.7 million towards the Investment Delivery Authority (IDA), bolstering the mining community.
AMEC’s assessment of the budget is that it will help assist approximately 30 large-scale projects that are valued over $1 billion, streamlining up to $50 billion worth of investment each year.
Royalties from the mining sector are expected to deliver $13.2 billion over the forward estimates to 2028-29, indicating a $374 million increase from prior forecasts highlighted in the most recent Half-Yearly Review.
CEO Warren Pearce says the government is offering new opportunities for mining companies, jobs, and overall growth of the resources sector in New South Wales.
“The IDA has the potential to build investment confidence and attract international capital,” Pearce says.
“Combined with the announcement of a Global Investment Summit later this year, there are strong synergies to promote New South Wales as a destination for investment.”
The NSW Minerals Council has also jumped in to support the budget, with CEO Stephen Galilee commending the NSW Treasurer for reducing debt and streamlining a path towards “modest” surplus for the mining sector.
“As a heavily regulated industry competing for global investment to deliver long-term economic growth and well-paid future jobs across NSW, the mining sector stands ready to assist in these endeavours,” Galilee says.
“Our sector can deliver billions in additional investment and thousands of jobs for the future – but only with policy settings that support these outcomes, rather than obstruct them.”
The budget detailed eligible critical minerals projects with a royalty deferral of up to $250 million, as well as another $100 million promised to the Future Jobs and Investment Fund.
AMEC plans to expedite land access processes and approval timeframes, in conjunction with the state government and appropriate departments.
“Now is a time of opportunity for the state of New South Wales. We have a critical minerals strategy in place ready to unlock the untapped potential of critical mineral deposits across the state,” Pearce says.
AMEC is an industry association that represents more than 500 explorers, miners, producers, as well as associated businesses and service providers.
Mining.com.au is an associate member of AMEC.
Write to Maddison Elliott at Mining.com.au
Images: Association of Mining and Exploration Companies
