Mining subsidy report ‘grossly exaggerated’ – NSW council
PERTH (miningweekly.com) – The New South Wales Minerals Council on Monday rubbished a report published by The Australian Institute (TAI) in June, which claimed that state governments had invested about A$17.6-billion to assist the resources sector over the past six years.
In the report, which drew widespread criticism from mining industry bodies at the time, TAI claimed that the assistance had taken many forms, from assistance packages to discounted access to services or infrastructure.
However, the New South Wales Minerals Council said that independent analysis of the report, compiled by Castalia Strategic Advisors MD and former state Treasury Secretary Michael Schur, had revealed that TAI “grossly exaggerated” the level of subsidy to the mining and resource sector. The group’s analysis of state and territory budgets was also “fundamentally flawed”, with actual government subsidies “amounting to no more than a few percentage points of the A$17.6-billion claimed by the institute”.
“TAI has been clearly caught attempting a massive economic fraud to attack the mining industry. This should confirm once and for all that the Australia Institute is an antimining campaign organisation masquerading as a think-tank,” New South Wales Minerals Council CEO Stephen Galilee said.
“The revelation of this A$17-billion fraud means that the economic credibility of TAI is now in tatters.”
At the time of its release in June, the report was also slammed by the Western Australian Chamber of Minerals and Energy, which said that the report ignored facts, and rather pursued an anti-resource headline, while the Association of Mining and Exploration Companies labelled the report as an attack on the mining industry.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...
VISIT SHOWROOM
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
