Association of Mining and Exploration Companies Convention

Mr HUGHES (Giles) (14:41): My question is to the Minister for Mineral Resources and Energy. Minister, can you inform the house on matters arising from your attendance at the recent convention held by the Association of Mining and Exploration Companies in Perth?

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy) (14:42): I thank the member for Giles for this timely question and his continued support for unlocking the potential of South Australia's mineral and energy resources. I had the pleasure of meeting with the resources minister in Perth, Mr Frydenberg, and of course the Leader of the Opposition, Mr McGowan, who are both strong supporters of the industry.

As you may be aware, Mr Speaker, the Association of Mining and Exploration Companies (AMEC) this week held its annual convention in Perth. The convention attracts over 500 delegates, and brings together world-class and industry-leading presenters, as well as speakers from all levels of government. This year, AMEC presented a very impressive program with a focus on looking beyond the horizon—a very appropriate theme, given the current position in the commodity cycle.

I was delighted to be invited again to present to the AMEC Convention and outline this government's strategy for unlocking the potential of our resources, energy and renewable assets, as set out in the Premier's 10 economic priorities. I was able to tell delegates about the opportunities for exploration generated by the release, in December, of high resolution geophysical data from a PACE airborne survey of the Coompana Province along the Western Australian border.

Coompana comprises 85,000 square kilometres in the south-west corner of the state. Explorers have until the close of business tomorrow to apply for 14 new exploration release areas drawn from this exciting new resource frontier. Providing magnetic and radiometric data is the first phase of $6.5 million worth of regional geophysical survey work in the Coompana region that will provide explorers with a wealth of new datasets needed to identify targets.

The AMEC Convention was also an opportunity to inform explorers and mining companies about the investments we have made in our world-class state drill core library at Tonsley. Already winning awards for its design by its designers, the library is an investment in our future that will repay itself many times over through new discoveries that lead to world-class projects. I was also able to tell them that this government stands behind explorers through the PACE and its discovery drilling program. In April, we announced that the maximum grant provided under this program had been increased to $250,000 from $100,000 and that we had broadened the activities that now qualify for government support. Not surprisingly, these changes have proven to be very popular, attracting the most applications since 2011.

Most importantly, I informed the convention of the most significant tax reform package in our state's history. These reforms reward the risk-takers, like miners and explorers, by abolishing stamp duty on business transactions—reforms that make South Australia the most competitive jurisdiction in Australia to do business. Policies, not posturing from the highest paid whingers in the state opposite, is what industry wants to hear, and I was delighted to be able to outline a few of our many resource initiatives to this very important gathering of Australia's leaders in mining.