There have been a few government approvals for significant coal mining projects in New South Wales this week.
A new $1 billion coal mine has been approved new Gunnedah.
Expansions of existing mines at Mudgee and Muswellbrook were granted yesterday by NSW’s Planning Assessment Commission. Meanwhile, expansions of various other mines near Muswellbrook are also undergoing assessment.
Coal-seam-gas projects are also proposed near Gloucestor and Narribri.
In spite of a significant fall in coal prices over the last 18 months the economic climate for mining has improved due to a re-setting of labour costs.
As these projects progressively unfold demand for accommodation will increase. Typical 3-bedroom houses in many of the neighbouring regional towns can be purchased by investors for circa $300,000. Rental yields are often better than capital city returns.
