The South Australian Chamber of Mines & Energy (SACOME) has welcomed the release of the South Australian 2023–24 Budget and its “support-focussed” approach.
There were several highlights for the resources sector included in the Budget, with $2.1 million allocated to the copper taskforce and $1 million for ongoing work at the Brukunga mine water treatment plant.
“SACOME welcomes funding of $2.1 million over four years to establish a copper taskforce to maximise the development of copper deposits,” SACOME chief executive officer Rebecca Knol said.
“Realising South Australia’s copper potential will reap enormous rewards for the entire state.”
“South Australia holds more than 68 per cent of Australia’s known copper resource and is well positioned to take advantage of the growing global demand for the metal, crucial for electrification and renewable energy generation.”
The South Australian Government has an objective of producing one million tonnes of copper a year by 2030.
Knol also welcomed news of funding the South Australian exploration regulation system.
“Continuation of funding to digitise and automate the State’s mining and exploration regulation system is provided to reduce approval timeframes and ensure South Australia remains as an attractive jurisdiction for mining investment and activity,” she said.
Other resources highlights of the South Australian Budget included:
- $100 million equity contribution for the Northern Water Project
- $1.2 million over two years for the Hydrogen and Renewable Energy Act implementation
- $250 million multisector Digital Investment Fund.
