The New South Wales Minerals Council has warned of massive possible job losses, if the state's mining industry continues to accept approval delays of twelve months or more.

New research commissioned by the Minerals Council outlines the concerns the Government had already heard from sector, that the planning system is too slow and may put a dent in resource investments through uncertainty. NSW Minerals Council chief executive Stephen Galilee says “overall the Government is aware that unless they get the planning system right, there is going to be a significant economic cost.”

Figures show project delays of twelve months or more would cost 29,000 jobs in the next two decades, $10.3 billion in lost investment and $600 million a year in lost royalties. There have been no strong suggestions for an improved system, but both government and industry sources say an overhaul is necessary.

There are some plans which require a long approvals process due to complex considerations, but some such as the Warkworth Mine near Singleton are seen as pure victims of bureaucratic sluggishness.

Full details from the NSW Minerals Council report are available for download.