Mining Employment

Mr VAN HOLST PELLEKAAN (Stuart) (15:23): Given the Premier's answer, can he advise the house whether there is any specific obligation or agreement with OZ Minerals for a specific number of new jobs to come to South Australia for the shifting of their head office, and if so, what that number is?

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy, Minister for Small Business) (15:23): I think it is important when we look at head offices like OZ Minerals, to have a look at what the capability is we want to have here in South Australia. In last week's Financial Review, OZ Minerals had a series of adverts in the paper looking for a brand-new chief financial officer that was previously based in Victoria. That chief financial officer will now be based here in South Australia. The chief operating officer. The chief executive will be moving here to South Australia, but of course—

Members interjecting:

The Hon. A. KOUTSANTONIS: Here we go—it's the old game, just count the number of jobs. I say this—

Members interjecting:

The Hon. A. KOUTSANTONIS: I say this to members opposite: there is a very good editorial in The Advertiser by the business editor, Chris Russell. He said that the OZ Minerals announcement had been viewed too simplistically by critics. Mr Russell, like us, understands the value of the research we have invested in. The $10 million that we have invested leverages $18 million, a total of $28 million, into researching how to unlock uniquely South Australian assets.

One of the reasons our mining boom here in South Australia is so difficult is because our ore deposits are at depth, they are at depth and they have uranium. That uranium is expensive to extract. Our commodities are of high grade, they are world class, our regulatory regime is seen by the rest of the world as being one of the best in the world, and they want to invest in South Australia—but there are technical inhibitions in getting their capital here and investing in our markets.

What OZ Minerals has offered the state is an investment in new technologies, partnering with our universities and our graduates, to unlock the key to removing uranium and copper from our ore bodies in a cost-effective way and making mining more cost effective. However, what do they do once they have unlocked it? Do they keep the IP for themselves? No, they do not. They make it freely available to every other South Australian mining company. There is only one group of people in this state who says that is a bad idea, and it includes the Leader of the Opposition.

There have been many reforms in this parliament that many people have criticised that later on have been seen to be very valuable. I think with the royal commission into the fuel cycle, this will be seen by future generations as a good deal, and they will not remember the small-minded people who opposed it.

Mr VAN HOLST PELLEKAAN: Point of order, Mr Speaker.

The SPEAKER: I think the Treasurer has finished, and that may obviate the need for the member for Stuart's point of order.

An honourable member: He still hasn't answered the question.

The SPEAKER: That is not a point of order, is it?

Members interjecting:

The SPEAKER: The member for MacKillop gets his call to order back, and the member for Stuart is warned for the second and final time.