FEDERAL Resources Minister Madeleine King assured a gathering of Hunter coal industry leaders in Singleton today that the Albanese government would support new coal and gas projects "if they stack up environmentally, economically and socially".
Ms King was the keynote speaker at yesterday's Hunter Coal Festival Mining Leaders Lunch at Singleton Civic Centre, the first such bi-annual lunch, because of COVID, since 2018.
Ms King's electorate of Brand is not unlike the Hunter, with heavy industry including alumina refineries and the HMAS Stirling naval base on Garden Island. WA's coal-fired power stations are in nearby electorates to the south.
She held the resources portfolio in opposition and told the 220 lunch guests that "many in the community don't realise how important mining will be in reaching our emissions reduction targets".
"As we seek to move to a decarbonised energy system, we are still going to be using coal and gas to keep us warm and to keen our manufacturing sector going," Ms King said.
Summarising the industry she said Australia exported more than 350 million tonnes of coal last year with a value of more than $100 billion - the only other commodity beside iron ore to reach that number. Earnings this financial year could hit $120 billion.
She said the Hunter and surrounding coalfields had 35 mines accounting for most of the state's 15,000 direct coalmining jobs, which generated 17 per cent of the region's employee earnings.
Royalties to state governments topped $10 billion last financial year.
Ms King said the recent unrest in energy markets "underlined a simple fact, that Australia needs reliable sources of dispatchable power".
Arriving guests were greeted by about 50 protesters outside the Civic Centre representing an array of environmental and community groups.
Hunter Environment Lobby spokesperson Bev Smiles accused Labor of "trying to walk on both sides of the road" on climate change, supporting the transition to renewables in some forums, but still supporting coal in others.
Denman Aberdeen Muswellbrook Scone Healthy Environment Group Inc spokesperson Wendy Wales said: "The coal industry in the Hunter Valley continues to expand while making record profits at the expense of the environment, community health, cultural heritage, and social fabric of the region.
"The largest and most recent - the Mount Pleasant expansion - would be responsible for nearly 900 million tonnes of greenhouse gas emissions emissions during its lifespan until 2048.
"Projects such as this totally wreck any opportunity humanity has to mitigate the worst impacts of the climate crisis - impacts that are already being felt around the world and right here in the Hunter Valley."
As angry as the protesters were about Mount Pleasant, they had a decision go their way today when news broke that Glencore's application to extend the life of the Glendell open-cut near Singleton had been rejected because of heritage concerns over the 190-year-old Ravensworth homestead.
Although news of the rejection rippled through the leaders' lunch, NSW Minerals Council CEO Stephen Galilee elected not to address it when he took to the stage.
He said the industry knew change was coming but said demand for Hunter export coal was unlikely to fall any time soon.
"One of the major reasons for coal prices being as high as they are right now is the restriction in supply driven by the failure to approve enough coal production over recent years," Mr Galilee said.
"What those opposing new projects have done is drive up the global price of coal and delivered good times for those who are currently in the markets.
"This will mean higher coal prices, which flows into higher energy prices, although it should be realised that coal sold here domestically is currently sold at four to five times lower than what it is bringing on the global market."
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