Mining royalties are at an “all time high” across NSW

Mining royalties are at an “all time high” across NSW. 

According to the NSW Government’s Half-Yearly Budget Update, royalties are now forecast to deliver a record $2.8 billion for the State in 2021/22, well up from the original forecasted $1.6 billion, and double the $1.4 billion collected in the last budget.

The NSW Minerals Council says mining royalties have surged due to high and sustained demand for NSW mineral resources and ongoing high prices, including for gold and copper, and for thermal and coking coal.

“The Budget Update indicates that NSW Treasury also expects mining royalties to remain at high levels for the 2022/23 budget year with a forecast of over $2.2 billion.”

“The record royalty revenue is a demonstration of the ongoing strength and resilience of the NSW mining sector, and the commitment of those working in mining across the state.”

“Mining directly employs around 40,000 people across NSW and they have worked tirelessly and vigilantly to keep mines operating safely throughout Covid-19.”

Many of those 40,000 people are employed in the Hunter region.

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