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SinoSteel Welcome

 

News Release

 The South Australian Goverment Logo

Hon Paul Holloway

Minister for Police
Minister for Mineral Resources Development
Minister for Urban Development and Planning

SINOSTEEL WELCOMED TO SOUTH AUSTRALIA

Thursday the 7th of June, 2007

Mineral Resources Development Minister Paul Holloway says the announcement by Chinese steelmaking giant Sinosteel that it will establish an office in Adelaide is very welcome.

The Sinosteel Corporation is China’s biggest steelmaker, and it has entered a major joint venture with PepinNini Minerals Limited to develop the Crocker Well and Mt Victoria uranium deposits, as well as other commodities, in South Australia’s Curnamona Province.

Sinosteel’s Adelaide office will be the company’s second in Australia, and will be the base for the joint venture with PepinNini. Sinosteel already has a presence in Perth.

Mr Holloway says Sinosteel’s decision to open an office in Adelaide is a further concrete sign that important international mining sector companies are recognising the State’s minerals boom.

"Sinosteel is one of the world’s great mineral sector companies, and the fact is has chosen Adelaide to establish an office is a huge vote of confidence in SA’s minerals boom," says Mr Holloway.

"It will also bring more investment to our State."

"As part of its joint venture alliance with PepinNini, Sinosteel is set to spend $11 million on exploring the Curnamona Province during the next two years for uranium and other commodities.