The Australia Institute made a submission to the Planning Assessment Commission on the Springvale Colliery Extension Proposal. Our submission relates to the various economic assessments and reviews of economic assessments in relation to this project.
Controversy has surrounded the economic assessment of the Springvale project, resulting in various assessments, submissions, responses and reviews. None of the assessments comply with the NSW Guidelines for economic assessment of mining projects.
This is important as several mines in the Lithgow area have closed due to being uneconomic and/or due to planning concerns. Decision makers should be closely examining the potential of the Springvale mine to deliver on its estimates of economic benefits and the risks that it too may close or be delayed or downsized. The economic assessment and related documents submitted by the proponents, consultants and planning do not provide useful information for assessing these risks and prospects.