Copper Mining

Mr HUGHES (Giles) (15:22): I rise to acknowledge an important event that is occurring today in the north of our state. The event represents one more step in the development of what is Australia's largest undeveloped copper deposit. The steps taken will ultimately lead, with board approval, to the creation of 500 direct jobs in the north of our state in addition to export earnings and a contribution to the prosperity of South Australia.

The event I am referring to is the formal element of the commencement of the Tjati decline, which will access OZ Minerals' Carrapateena copper deposit. OZ Minerals have contracted PYBAR Mining Services to build a 600-metre deep, 5.5-kilometre long decline. Construction of the decline will help de-risk the project and assist in the final decision-making process that, in all likelihood, will lead to the development of the mine and the related copper concentrate plant at Whyalla. The work that is now being done is part of the prefeasibility study. It is anticipated, assuming board approval, that the feasibility study will commence by April next year.

It is not lost on me that I stand in a somewhat grandiose chamber that was built on the back of the copper-derived wealth that gave South Australia a major boost the 19^th century. The Cornish copper miners who, through their labour and skill, contributed to the development of South Australia also played a pivotal role in the formation and development of the Labor Party in South Australia. Copper played a major part in our past, through Olympic Dam and Prominent Hill, it plays an important role today, and copper will play an important part in our future—I believe an increasingly important part.

In order to make the most of that potential, our government's $20 million PACE Copper Strategy represents a very positive initiative. I expect the PACE Copper Strategy to deliver the solid returns we have seen from the general Plan for Accelerating Exploration; PACE has generated returns on public investment of over 20:1. The investment in pre-competitive geoscientific data and financial assistance for exploratory drilling programs has been a major success.

We need look no further than Carrapateena to demonstrate just how worthwhile the PACE program has been. Carrapateena was discovered as a direct result of public investment in the drilling program, in partnership with a junior explorer. That public investment is likely to lead to the creation of 500 jobs. That is my definition of success. I think PACE Copper is an exciting initiative. The initiative will underpin the world's largest geophysical program. It will deliver:

the world's largest high-resolution airborne geophysical and terrain imaging program as part of a 'regeneration' of exploration in the highly prospective Gawler Craton.

In addition to casting an eye over the Gawler Craton, the Eucla Basin in the far west of the state will also benefit from the investment in pre-competitive geoscientific surveys. The Eucla Basin is relatively untouched when it comes to exploration.

Another exciting initiative that is being pursued as part of the state's copper strategy is the development of the International Copper Technology Hub, which will be based at Tonsley. The proposed International Copper Technology Hub ticks a lot of boxes and, as such, deserves a grievance to itself. I have no doubt that, if the vision for the hub is realised, it has the potential to make an enormous contribution to our state and especially to regional South Australia.

The copper resource in the Gawler Craton represents 68 per cent of Australia's copper resources and 14 per cent of the world's copper resources. Through the initiatives outlined, adding to that resource will greatly benefit South Australia and help generate good-quality jobs in regional South Australia.