DMITRE Minerals

Jump to content

Search

 

Navigation

 

TEiSA 2020 Press Release

SA Labor Government gives TEISA 2020 the green light.


In handing down its first budget the new Labor Government has reaffirmed support for the South Australian Minerals and Petroleum sectors through funding the new Targeted Exploration Initiative SA 2020.

$1.14 million in new spending will go to acquiring strategic geoscientific data, under the new Targeted Exploration Initiative 2020. The funding will increase to $2 million a year over five years.

TEISA 2020 will ensure that high quality pre-competitive geoscientific data continues to be supplied to mineral and petroleum explorers wishing to do business in South Australia.

TEISA 2020 objectives are:

  • To reduce risk of exploration for minerals and petroleum in key areas of South Australia (notably the prospective areas of the Musgrave Block, Gawler Craton, Curnamona Province and Officer Basin), through improved understanding of their prospectivity and enhanced access to critical data to support business decisions.
  • To remove the “tyranny of depth” – that is, developing methods to see through the cover sediments that obscure most of these highly prospective regions of South Australia.
  • To promote the competitive advantage of South Australia nationally and internationally.
  • To increase exploration, new mineral discoveries, developments and production in line with targets identified in SA Government’s response to the Resources Task Force.

More TEISA 2020 Information will be available in the near future