OLYMPIC DAM

Mrs GERAGHTY (Torrens) (14:38): Can the Premier tell the house when the indenture negotiations on the Olympic Dam expansion will begin?

The Hon. M.D. RANN (Ramsay—Premier, Minister for Economic Development, Minister for Social Inclusion, Minister for the Arts, Minister for Sustainability and Climate Change) (14:38): I appreciate that question, because it is a very important one for our state, which is why I have such confidence in the Minister for Police and why I have such confidence in the Minister for Defence Industries—

Members interjecting:

The SPEAKER: Order!

The Hon. M.D. RANN: —and why I have such confidence in the minister assisting me in the Olympic Dam negotiations—

Members interjecting:

The SPEAKER: Order!

The Hon. M.D. RANN: —because of this: a $1.4 trillion resource—

Members interjecting:

The SPEAKER: Order, members on my left will be quiet and stop this yelling! Premier.

The Hon. M.D. RANN: Yes; and for the benefit of the member for Unley, a trillion dollars is a lot more than 1,000; it is not a Eureka moment. The negotiations for the Olympic Dam expansion indenture have begun this week. That is the process that we are doing, in parallel with the assessment on the environmental impact statement, with the federal government right through until September if we can clear every hurdle.

We will also be negotiating the indenture, negotiating the royalties for our state for the next 100 years, and we will be negotiating to ensure that the maximum amount of processing is done here in South Australia, and we will be negotiating on how we can maximise the best number of jobs we can for jobs in this state, not offshore, and contracts and subcontracts for business and small business in this state.

Members interjecting:

The SPEAKER: Order!