The Mining Major Industry Projects report, released today by the Bureau of Resources and Energy Economics, is a major boost for the industry considering the $260 billion figure represents a 12% increase since October 2011.

Contributing factors to the rise in committed investment include the decision to proceed with the Ichthys LNG project, the Greater Western Flank gas field and the Nammuldi iron-ore operation.

BREE executive director and chief economist Quentin Grafton said the commitment in the mining industry would underpin the country’s supply of major resources.

“The continued growth in committed capital expenditure will result in significant increases in Australia's supply capacity of LNG, iron ore and coal,” Grafton said.

The record $260.8 billion consists of a 98 projects at an advanced stage of development, including 39 minerals projects, 38 energy projects, 19 infrastructure projects and two mineral processing projects.

Oil and gas, iron ore, coal and other associated infrastructure projects accounted for about 95% of the total committed capital expenditure.

In the iron ore sector, 15 projects were in the advanced stages of development with $25.6 billion being put on the table.

Since the October 2011 report, 25 projects with a combined capital cost of $23.6 billion were undertaken in Australia.

Resources and Energy Minister Martin Ferguson said the report demonstrated the important role resource developments had in the Australian economy.

“These new projects will continue to have a huge impact on our economic development and will provide new employment opportunities for thousands of Australians,” he said.