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It doesn't take much exploration to discover SA is the best place to mine

News Release

www.premier.sa.gov.au

 

Hon Tom Koutsantonis

Minister for Mineral Resources Development
Minister for Industry and Trade
Minister for Small Business
Minister for Correctional Services

Sunday, 29 May 2011

Minister for Mineral Resources Development, Tom Koutsantonis, says investors and mining companies should be looking to South Australia after the Western Australian Government’s decision to increase royalty rates.

Mr Koutsantonis said the State Government will exploit all opportunities to gain every competitive advantage in any industry sector and has launched a targeted advertising campaign in WA to let the mining industry know “South Australia is the most prospective, profitable and best place to mine”.

“We in SA understand the inherent risk mining companies face in the initial stages of exploration which is why we have a concessional royalty rate of two per cent for new mines for the first five years,” Mr Koutsantonis said.

“If it is less profitable for companies to mine in Western Australia then we will make sure investors and companies know South Australia is an easier, more lucrative option.”

“We also have the nation’s best exploration scheme in PACE 2020, which has already seen the approval of more than one million meters of drilling work throughout the state and helps mining companies with their exploration and information gathering.”

The advertising campaign, which began with a full page advertisement in the Sunday Times in WA and will be continued with billboard advertisements, spells out South Australia’s new mines policy system.

Mr Koutsantonis said it was an exciting time for the mining industry in South Australia with the proposed Olympic Dam expansion set to become Australia’s largest mine and also a chunk of the Woomera Protected Area, the size of England, open for exploration.

“I want to let people know that there is ample opportunity for companies in this state,” he said.

“And while we are still a young state in terms of our mining industry, we have come a long way since the Rann Labor Government came into power.

“We have come from four mines to 16, we have unlocked part of the Woomera Protected Area which is known to hold vast amounts of resources and we have the best mining jurisdictions and processes in the country as rated by the Fraser Institute.”

“I am hoping that companies in the West may shift their focus to SA, where we don’t take mining for granted.”