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House of Assembly - Fifty-Third Parliament, Second Session (53-2)
2015-05-06 Daily Xml
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Copper Mining

The Hon. A. KOUTSANTONIS (West Torrens—Treasurer, Minister for Finance, Minister for State Development, Minister for Mineral Resources and Energy, Minister for Small Business) (14:06): I seek leave to make a ministerial statement.

Leave granted.

The Hon. A. KOUTSANTONIS: This morning I hosted the South Australian Copper Summit, an event attended by major copper producers, including BHP Billiton, OZ Minerals and Hillgrove Resources, as well as key explorers, service providers and representatives from our Indigenous community. The aim of today's summit was to enlist the support of the resources industry and other stakeholders in developing a South Australian copper strategy. Unlocking the potential of our mineral, energy and renewable assets is the number one economic priority. Making the most of our world-class copper resource needs to be a central element of that objective.

Speakers at today's summit at the redeveloped Adelaide Convention Centre included BHP Billiton's Darryl Cuzzubbo, OZ Minerals' Andrew Cole, EDB and mining veteran Terry Burgess, Greg Hall of Hillgrove Resources, and the highly respected deputy chief executive, Dr Paul Heithersay, and executive director Mr Mark Elford, of the departments of state development and DPTI. This was a formidable array of experts who believe in South Australia and believe that we have a strong future for jobs, investment, exports and economic growth if we can unlock the potential of our copper assets.

I told the summit that South Australia's past success was built on our copper endowment, and I believe that again this valuable resource can support this state's future prosperity. South Australia hosts the country's largest underground mine at Olympic Dam, and we have major copper projects operating at Prominent Hill and Kanmantoo in the Adelaide Hills. The government's message to today's summit—and I will reaffirm it here—is that South Australia needs to look beyond the current commodities cycle to set an ambitious target that reflects our capacity as home to 38 per cent of the nation's copper resource.

This needs to be a nation building goal. So, my challenge to the producers, explorers, the local community, and infrastructure and service providers is to embrace a target to increase our state's output to a scale that will raise Australia in the world rankings of copper producers. Currently, the United States Geological Survey ranks Australian copper production just outside the top five. With a long-term strategy matched by sustained global demand, I believe South Australia's copper reserves can leapfrog Australia into the top three in world production.

We have already taken some steps along this pathway. Our experts tell us that the metallurgy and the geology are challenging. That is why we have invested in a partnership with OZ Minerals to investigate a way to improve the quality of our copper ore for export. It is why we are working with the Deep Exploration Technologies Cooperative Research Centre to overcome the challenges of our ore bodies being locked away under deep cover.

Through PACE Frontiers, the Department of State Development is working in partnership with the Deep Exploration Technologies CRC on a deep mineral systems drilling program in the eastern Gawler Craton. The aim of the program is to map various components of mineral systems below cover, with the potential to identify preferred sites to target specific metal concentrations.

As we develop this strategy, the government will be contacting stakeholders to help identify our strengths and our weaknesses, obstacles that need to be cleared and advantages that need to be built upon so we can realise our full potential as a copper-producing province. We will also be consulting with the South Australian public in the regions, towns and cities, as well as workers and management, scientists and service providers to determine a shared strategy. I ask all members to make a positive contribution to the development of this strategy so that through collaboration we can realise the benefits of our copper assets for all South Australians.

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