The NSW minerals industry has enjoyed a strong twelve months. Driven by healthy coal prices, increased coal exports and the weak Australian dollar, the total value of mineral production in 2000-01 was 7 billion dollars. This compares to nearly 6 billion dollars produced in 1999-2000. Coal production alone was valued at about 5 billion dollars and accounts for 71 per cent of our mineral production. Metallic and industrial minerals production accounted for the other 2.0 billion dollars. Despite a 7.7 percent decline in contract thermal coal prices for 2002, the forecast of recovery world economic growth this financial year will have a positive impact on the global demand and therefore prices for most of our State's metallic minerals. The value of NSW mineral production is forecast to increase to around 7.8 billion dollars this financial year. This is higher than our previous peak of 7.4 billion dollars in 1997-98.
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