THE Leader published an interesting article by the NSW Minerals Council setting out the financial achievements from mining in NSW during the period 2014/15.
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Unfortunately for the Minerals Council, the data provided is becoming less positive, as in the past four years coal prices have fallen from $73 to $43 per tonne.
The council’s report does little to encourage financial support for any future mining enterprise. Already, Rio Tinto has divested $US4.7 billion of its assets, including the sale of the Peabody mine in the Hunter Valley.
Currently, Peabody mine is seeking approval to extend its activities to maintain its economic viability. Neighbouring horse studs and owners of productive farm lands are vigorously opposing the mine’s expansion.
AGL announced its withdrawal from gas extraction works throughout Australia following persistent protests at Gloucester and Camden, and will channel its resources into energy distribution, with increasing emphasis on renewables. The overall result is there has been an increase in the price of AGL shares.
The Minerals Council report concentrates only on the financial benefits and fails to address the community losses through the thousands of hectares of abandoned and degraded mine sites – and definitely there is no mention of any rehabilitated areas.
Here in our own backyard, we can see a classic example of mine hazard and landscape degradation. Woodsreef mine was open-cut mined from 1972 to 1983, during which 75 million tonnes of rock waste and 25 million tonnes of tailings was excavated. Asbestos is a serious health hazard, leading the then-acting premier Andrew Stoner to close the Crow Mountain Rd as it was seen as a danger to public health.
The NSW government spent $6.3 million of taxpayers’ funds placing most of the tailings back into the excavated pit and then covering this with waste rock. Woodsreef mine site has never been rehabilitated.
In past decades, asbestos was seen as an essential material for everyday living. Likewise, by 2030, we will have half of our electricity needs generated from fossil fuels and the other half from renewables.
Declining world economies, ever-decreasing prices for oil, coal, iron and minerals requires the Minerals Council to demonstrate more lateral action in response to the needs of communities, farmlands and the environment.