Sector delegates attending the AIMEX mining conference last week heard there was renewed confidence in the New South Wales mining sector.

NSW Minerals Council CEO, Stephen Galilee said the industry was recovering after some recent lean years but positive policy setting for the industry was key to the sector’s future.

“Over the last 12 months there’s been a strong turnaround for mining in NSW with indications that this will continue in the medium term,” Mr Galilee said.

He noted the upsurge in the coal sector, with thermal coal prices rising from US$56 a tonne in June 2016 to US$87 a tonne in August 2017.

Coking coal prices skyrocketing from around US$80 a tonne to around US$200 a tonne over the same period.

Mr Galilee said improved coal prices had led to more jobs . Just over 20,500 coal production jobs were recorded in NSW as at June this year – an increase in excess of 1,000 on figures recorded at the same time last year. The number was also the highest since March 2015.

“We’ve also had record levels of demand for NSW resources,” he said.

“Last year a record 161 million tonnes of coal was exported through the Port of Newcastle and this strong demand looks set to continue with Coal Services reporting an increase in coal exports in recent months.”

The metals mining sector in NSW has also experienced improved conditions with gold and copper prices on the rise, Mr Galilee said.

The value of gold up by 12 percent since January and the value of copper up by 18 percent over the same period.

He said new gold, nickel, cobalt and silver mines were being developed across NSW.

The ABS has also reported an increase in exploration spending in NSW of 28 percent to $36.7 million over the last 12 months to March 2017.