"This is a record value of advanced projects and, at 91, the number of projects is also at a historically high level," Phillip Glyde, ABARE Executive Director, said on releasing the report Minerals and energy: major development projects – April 2007 listing.

In total there are a record 279 major projects in the April 2007 listing. 188 projects are at less advanced stages and still undergoing feasibility studies. 23 projects have been completed and 43 projects have been added to the list since October 2006.

"These numbers show that investment remains strong, enhancing the prospects for sustained growth in the Australian mineral resources sector," Mr Glyde stated.

Petroleum and coal projects account for around 39 per cent (or $16.8 billion) of the estimated capital cost of $43.4 billion for all of the advanced projects. Investment interest is also strong in iron ore, nickel and gold, which account for a further 28 per cent, 7 per cent and 6 per cent, respectively, of the estimated total capital cost.

Between October 2006 and April 2007, three iron ore projects were committed to, at a value of $7 billion, accounting for the majority of the increased value of committed projects during this period.

Mr Glyde noted that the scarcity of skilled labour, and increased materials and construction costs, continues to have an impact on the timing and overall costs for some projects.

"Project cost pressures and delays are unlikely to ease in the short to medium term while this level of development activity continues," Mr Glyde said.