The report, Minerals and energy: major development projects – October 2006 listing was released today by Ms Karen Schneider, ABARE's acting Executive Director.

"This is a record number of advanced projects and, at $34.9 billion, the total value of these projects is also a record," Ms Schneider said.

In total there are a record 268 major projects in the October 2006 listing, including the 94 that are considered "advanced" projects (under construction or committed). A further 174 projects are at less advanced stages and still undergoing feasibility studies. Fifty projects are new to the list since April this year.

"Current investment intentions in the Australian mineral resources sector, as reflected in the record number and value of minerals and energy projects committed to or under construction, bode well for the sector"s growth over the next few years," Ms Schneider commented.

Petroleum and coal projects account for almost half (or $16.4 billion) of the estimated capital cost of $34.9 billion for all of the advanced projects. Investment interest is also strong in iron ore, nickel, gold and alumina, which account for a further 17 per cent, 9 per cent, 8 per cent and 7 per cent, respectively, of the estimated total capital cost.

Ms Schneider noted that factors such as the scarcity of skilled labor, and increased materials and construction costs have recently caused delays and cost increases for some projects.

"With an exceptionally large number of projects currently committed to or under development, project cost pressures and delays are unlikely to ease in the short to medium term," Ms Schneider said.