NSW authority among positive signals for new mines, says industry
- 25 June 2025
A new Investment Delivery Authority that could speed up to A$50 billion a year of investment in major projects in future New South Wales has been welcomed by the state’s minerals council, which says large-scale mining ventures could turbo-charge the NSW economy and significantly boost regions.
The IDA, initially costing $17.7 million to set up, is among measures outlined in the state government’s 2025-26 budget which signal that “NSW is open for business”, according to a government press statement.
“If we want to attract major private capital … then government must match the ambition of business,” it said. “[The IDA] will encourage high-value projects and put them in the fast lane.”
New South Wales Minerals Council CEO Stephen Galilee said the state had more than $2 billion of investment proposed for nine new mines, including approved and shovel-ready projects, that could create more than 2000 ongoing jobs in regions and help “turbo-charge the NSW economy”.
“The establishment of the new Investment Delivery Authority is an opportunity to attract more mining investment and [enable] faster delivery of major projects,” he said.
Australia’s Association of Mining and Exploration Companies (AMEC) also welcomed the IDA, with CEO Warren Pearce saying the association looked forward to receiving further information about the initiative. “It’s promising to see the (NSW) government prioritising approvals for large projects. These are the types of defining projects that bring with them new opportunities, new jobs and new growth sectors across the state economy,” he said.
Galilee said NSW treasury papers outlining measures to “reduce regulation, fast-track investment and generate the jobs and prosperity of the future” were pleasing. “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,” he said.
“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.”
Galilee also noted delivery of $13.2 billion of future forecast royalty revenue required that the NSW mining sector was strong enough to withstand global cyclical challenges.
“Mining royalties are forecast to deliver $13.2 billion over the forward estimates to 2028-29, representing an increase of $374 million over the revenue forecasts contained in the 2024-25 Half-Yearly Review,” he said.
“At the same time, the $453 million downward revision in budgeted royalty revenues for 2024-25 is a timely reminder of the volatility of global commodity markets and the cyclical challenges faced by global commodity industries from time to time.
“Those seeking to impose even more costly regulatory burdens on the NSW mining industry risk making our industry uncompetitive, putting billions in future NSW mining royalty revenues at risk.”
The NSW Minerals Council chief said potential deferral of $250 million in royalties from critical minerals projects, aligning with the NSW Critical Minerals and High-Tech Metals Strategy, was a positive signal to attract future mining investment.
AMEC’s Pearce said: “The royalty deferral for critical minerals demonstrates an acute awareness for the strong headwinds and international tensions hitting many mineral commodities. This is an important measure … to provide support for this crucial part of our industry.”
