A treasure chest of mining royalties will be set aside in a future fund exclusively for coal towns to drive job creation and community support as the power mix changes in coming decades.
The NSW government will announce $25 million a year will be locked away for coal mining towns in a significant policy signal that balances John Barilaro’s support for coal with a plan for transitioning the economy in the future.
The Telegraph can also reveal the government will make a string of mining announcements on Wednesday, releasing the Wollar area in the Central West for potential coal exploration but ruling out open cut coal mining at the Dartbrook Coal Mine in the Upper Hunter, without impacting the proposed extension for the underground mine.
It comes as the NSW government yesterday paid $100 million to Shenhua Energy Company to withdraw its mining lease application in Liverpool Plains and ensure no open cut mining can occur in the area in future, giving certainty to farmers and landholders.
Mr Barilaro will today make the pitch that the four separate announcements show a commitment to balance in the government’s approach to coal mining.