news

New $80m mine announced

By Staff Reporter
0

A new $80 million mine has been announced, providing another string to one suburb’s bow, according to the Department of Planning and Infrastructure.

Located 100km south east of Cobar, 4km south of Nymagee, in Western NSW, the ‘Hera Project’ mine will be an extraction point of 355,000 tonnes yearly of gold, silver, lead and zinc.

The mine will have a lifespan of 8.5 years.

“The project would provide economic and social benefits to the region and NSW, with up to 100 jobs created during construction and a further 100 during operation,” said deputy director-general Richard Pearson.

The Cobar Shire Council’s Economic Strategy 2012 to 2016 report found that housing within the area is largely controlled by employers.

“There are around 2,300 dwellings in the Shire with over 36 per cent of residents renting, and only 30 per cent of residents owned their home at census time.

"The employers in town are large holders of real estate, to ensure there is adequate housing available for their workforce,” the report said.

A housing strategy will be identified by the council over 2012/2013.

Over a third of Cobar’s 5,000 strong population is employed in mining or manufacturing industries.

promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
FAIRLIGHT 46.02%
2.
CASUARINA 44.36%
3.
THE ENTRANCE NORTH 41.09%
4.
ULTIMO 40.67%
5.
LAVENDER BAY 40.2%