Industry Search Australia Trusted by 600,000+ buyers

NSW economy stands to 'benefit' from Shenhua Watermark mine

19 July, 2015

According to Australian Industry Group NSW Director Mark Goodsell, the Watermark coal mine has the potential to make a significant and much needed contribution to the NSW economy.

Goodsell continued by saying that the industry is confident that the tough conditions that have been set will protect vital interests in land and water.

"There is no doubt that the community and farmers have a legitimate interest in protecting our water resources and our farmlands.  At the same time, NSW stands to benefit considerably from resources-based projects and the wider industrial activity and employment that mining can bring.

"The Federal Government's decision to approve the Watermark mine is the proper outcome of a long and tough assessment process to meet exactly these concerns. This assessment has had the benefit of strong independent advice and assessment.

"The project will involve capital investment of more than $1 billion and hundreds of jobs in construction and ongoing operations, with benefits across the State. Shenhua Watermark will bear both the ordinary commercial risks of a major project in a turbulent industry, and the responsibility to minimise environmental impacts in line with the State and Federal approvals.

"The Watermark mine clearly arouses strong feelings, and the Government deserves credit for taking a considered decision on a difficult issue.  There are further steps for the project to navigate, including preparation and government approval of stringent environment and water management plans.

"It is of course essential that the project be monitored closely as work gets underway and the conditions that have been placed on the development are fully enforced," Goodsell said.