MINERAL EXPLORATION

The Hon. B.V. FINNIGAN (14:40): My question is to the Leader of the Government, the Minister for Mineral Resources Development. Will the minister provide an update on the successful program for accelerating exploration that has been pivotal in sparking interest in mineral exploration in our state?

The Hon. P. HOLLOWAY (Minister for Mineral Resources Development, Minister for Urban Development and Planning, Minister for Small Business) (14:40): I thank the honourable member for his timely question. This government has so far funded five successful rounds of the joint PIRSA industry drilling collaborations since launching the PACE initiative in April 2004. I am delighted to report that, last week, PIRSA launched round 6 of the Plan for Accelerating Exploration drilling collaboration between the government and industry. The continuation of the PACE drilling program highlights this government's commitment to resource exploration within South Australia. I am confident that, between now and 28 January next year, we will receive a record number of high-calibre submissions.

From 2004 to 2009, a total of 335 proposals have been submitted, with 168 successful submissions sharing in $10 million of funding. These projects were spread across all regions of the state, targeting a wide range of commodities. PACE drilling collaborations have not only led to key new discoveries but they have also extended valuable resource estimates, tested new exploration models and deposit styles and contributed hugely to the geological understanding of South Australia.

The PACE initiative is now recognised around the world and throughout Australia as one of the most successful government initiatives in stimulating new mineral discoveries and in attracting and securing major levels of mineral exploration investment. Most recently, PACE has contributed directly to the discovery of IronClad Mining Ltd's magnetite iron ore project, Hercules; Iluka Resources' heavy minerals sands deposits, Dromedary on Eyre Peninsula; Lynch Mining's iron ore intersections at the Bramfield prospect on western Eyre Peninsula; and Teale and Associates' Prospect Hill tin and base metal intercepts in the northern Flinders Ranges. Successful proposals will also be announced in the first quarter of 2010. Companies wishing to lodge a proposal can find details on the PIRSA minerals website.