Mining and mineral exploration offers a path way to growth for South Australia
6 March 2019
Today, the South Australian Government has published the Review of the South Australian Government’s International and Interstate Engagement Bodies and Functions undertaken by former New Zealand Trade Minister Hon Steven Joyce. Read the report here
Mining is highlighted as one of the eight key industries for South Australian future.
In the recent Fraser Institute Survey of Mining Companies 2018, South Australia was the fourth most attractive jurisdiction in Australia, placing 24th in the world.
The Australian Bureau of Statistics December Quarter mineral exploration statistics, South Australia had the lowest total mineral exploration expenditure of all mainland jurisdictions with $21.9 million.
The centrepiece of today’s Report is the Government’s announcement of a target growth rate of 3%.
“The Government of South Australia should be commended for staking a claim in a brighter future by targeting 3%,” says Mr Warren Pearce, Chief Executive Officer, Association of Mining and Exploration Companies.
“The targeted growth rate is triple the long-term average growth rate achieved over the last ten years.”
“To achieve this target growth rate, the Government needs to work with industry to develop a clear plan to encourage greater mineral exploration and the opening of new mines.
"Without significant growth in the mining industry this target will not be met."
“Each new mine will lead to jobs, social and economic benefits for the local communities and South Australia.”
“Today’s Report sends a clear signal that South Australia is open for business, but it is the next steps to make this target a reality that will be crucial,” said Mr Pearce.