International Mining and Resources Conference

Mr HUGHES (Giles) (14:53): My question is to the Minister for Mineral Resources and Energy. Can the minister inform the house about the International Mining and Resources Conference currently underway in Melbourne, which has a focus on outbound Asian investment?

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy, Minister for Small Business) (14:53): Yesterday, I was fortunate enough to travel to Melbourne to speak at the inaugural International Mining and Resources Conference (IMARC). The four-day event that started yesterday is being held at the Melbourne Convention and Exhibition Centre. The conference brings together more than 2,000 delegates from more than 30 countries along with some of the world's largest mining companies, including Rio Tinto, MMG and BHP.

The government's message was clear: we are open for business, and this government, unlike some sections of the community, supports unlocking the full potential of South Australia's resources, energy and renewable assets, wherever they are. The Asian region is the world's fastest growing regional economy—

Mr Whetstone interjecting:

The Hon. A. KOUTSANTONIS: Calm down, sweetheart—with 33 per cent of the world's gross domestic product. This government will continue to build the state's relationship with Asia by supporting and extending our mutually beneficial links through migration, trade, investment and tourism.

Over the last 10 years, our state's mining and oil and gas producers have more than quadrupled mineral and petroleum production from $1.6 billion to $7 billion achieving record exports now accounting for 39 per cent of South Australia's merchandise export.

Mr Tarzia interjecting:

The Hon. A. KOUTSANTONIS: Yes, that's right. I repeat this all the time. I say it over and over again and one day it might filter through to members opposite that the oil and gas industry—

Mr TARZIA: Point of order!

The Hon. A. KOUTSANTONIS: —in this state will benefit South Australians. It will actually grow our economy and it will help South Australians.

The SPEAKER: The minister will be seated. I will take the point of order from the member for Hartley who, from quite a distance, is trying to show me his computer screen.

Mr TARZIA: Point of order, sir. The minister seems to be reading from a press release put out on 22 September, but I could be wrong there, sir.

The SPEAKER: Minister, is this information readily available from another source?

The Hon. A. KOUTSANTONIS: Yes, sir, and I scream it from the rooftops so members know exactly how important our oil and gas sector is, sir. I mention these statistics in speeches, in press releases, in emails, on Twitter, on Facebook, everywhere to point out to members opposite and the Leader of the Opposition how important this industry is to South Australia.

Members interjecting:

The SPEAKER: The member for Hartley is warned a second and final time. The deputy leader.

Ms CHAPMAN: I'm not sure, Mr Speaker, whether I have to dance on the table here to get your attention.

The SPEAKER: Please, no. Please don't.

Ms CHAPMAN: For the last minute, while I have been trying to raise a point of order, the minister has not only made accusations across the chamber but has also been debating this matter.

The SPEAKER: I uphold the point of order. But wait, there's more.

The Hon. A. KOUTSANTONIS: The government's involvement in these international conferences, whether they be based in Adelaide, Melbourne or in the Asia-Pacific or anywhere in the world, is important to spread the word about our best regulatory practices that we have here in South Australia, about our regulatory practices that ensure safe—

Mr Marshall: Our high taxes.

The Hon. A. KOUTSANTONIS: It's interesting. Note that the Leader of the Opposition talks about high taxes. In terms of mining taxes, we have the lowest mining taxes—

Mr Marshall: You supported the carbon tax. You supported the mineral resources rent tax.

The Hon. A. KOUTSANTONIS: We supported the lowest mining taxes in the country. Indeed, those lowest mining taxes in the country are a great benefit towards South Australia in encouraging more investment. I do note that when the MRRT was brought in and affected iron ore mines and coalmines in Western Australia and Queensland, those governments increased royalties to about 12 per cent. Those Liberal governments increased those royalties in response to the MRRT to have a feedback to their state budgets. The MRRT has now been removed, but those royalties have not come down. The highest taxing states in the federation for the mining industry are Queensland and Western Australia—Liberal governments.

The SPEAKER: The member for Colton.

Mr Marshall: That's three in a row for the government.