The Minns Government should urgently begin allocating $100 million worth of designated grants for economic diversification in coal mining regions amid revelations that not a single cent of the Royalties for Rejuvenation fund has been spent on projects, says Lock the Gate Alliance.
Natural Resources Minister Courtney Houssos recently confirmed none of the funding had been spent in response to questioning during Senate Estimates (transcript, p 24). The fund, established nearly three years ago, is intended to “alleviate economic impacts in affected coal mining regions caused by a move away from coal mining by supporting other economic diversification in those regions” (s 292W Mining Act).
Also in response to questioning, the minister confirmed that members of the “Hunter Expert Panel” established by the former government to guide spending on economic diversification projects are continuing to be paid despite not meeting since August 2023. (Transcript, p 24).
Lock The Gate spokesperson Steve Phillips said: “The Hunter has a critical need for rapid economic diversification - the first large mine closures are imminent.
“Meanwhile, the Minns Government is spuriously claiming it cannot start spending from the fund until 2028 due to an alleged Cabinet decision by the previous Coalition Government. It’s a weak argument and it’s communities like the Hunter that suffer.
“In just five years, two of the biggest mines in the valley are planning to close. We need to build new industries right now to ensure there are new jobs to go to when the mines start to close.”
“There’s been years of talk and advice and not a single diversification project has been funded. We’ve lost too much precious time, and the first mine closures are imminent.
“The money is there, and communities are crying out for investment. We call on Minister Houssos to release the funds.”
ENDS