The New South Wales government has introduced legislation to establish the Future Jobs and Investment Authority, which will support coal-producing communities and their long-term economic future.
The statutory authority will partner with all levels of government, industry and the community to unlock investment opportunities and facilitate new opportunities for jobs.
The bill gives the authority powers and functions to attract investment to create new jobs and industries, facilitate post-mining land use for productive purposes and to provide work force support. The authority will also lead community engagement and report on mine closures to keep communities for generations.
Minister for Natural Resources Courtney Houssos said: “Our coal regions have powered NSW for generations. Now, we’re investing in their future by helping workers gain new skills and seize opportunities in a growing, diversified economy.
“Coal mine workers are the backbone of regional coal communities. The authority ensures their needs are front and centre as we build a stronger future for coal-producing communities.”
Coal is an important sector in the state’s economy. Around 90 per cent of New South Wales coal is shipped to nearly 30 countries and there around 40 mines in operation across the state.
The coal industry delivers AU$2.7 billion each year through economic activity and royalties, while supporting thousands of regional jobs.
The legislation, developed in consultation with unions, industry bodies and community groups, includes local divisions in each coal region to reflect local priorities.
New regulatory requirements will emphasise worker protection in case of mine closures.
Coal mine operators will also be required to provide at least three years’ notice before closure. Operators will need to inform the government on how they intend to support their workforce in the lead-up to and following closure of the mine.
These new obligations will give the authority a better understanding of the timeline of mine closures to help the government, unions and communities prepare.
Failure to report or prepare workforce plans will be enforced by the authority, including through financial penalties.
