South Australian Chamber of Mines and Energy (SACOME) chief executive officer Nicola McFarlane has underlined the central role of the state’s resources sector in both the economy and the global energy transition.
Speaking at AIMEX today, McFarlane noted that the sector contributes 6.4 per cent of South Australia’s gross state product and has seen direct employment surge by 86 per cent in the past five years. Today, one in 23 full-time jobs in the state is supported by mining and resources activity.
McFarlane said the push towards decarbonisation would not diminish the importance of mining, but in fact increase demand for South Australian commodities.
“Decarbonisation doesn’t mean less mining – it means more mining,” she said.
The state is already generating 80 per cent of its electricity from renewables, and with world-class copper deposits, critical minerals and plans for green iron and steel, it is positioned to benefit from the transition.
Future opportunities are significant. Global copper demand is forecast to grow by 70 per cent by 2050, while South Australia also holds abundant reserves of graphite, gold and rare earths. Government support for a green iron and steel strategy, alongside a focus on developing infrastructure corridors, is expected to enhance the sector’s competitiveness.
Nationally, the mining industry has delivered $394.6 billion in taxes and royalties over the past decade, including $32.5 billion in company tax and $26.9 billion in royalties last year alone. The sector provides direct employment for more than 303,000 Australians.
To ensure community support, SACOME has launched its ‘Resourceful SA’ campaign, which has already generated 33.8 million impressions. McFarlane said building trust with the public was vital to securing the industry’s future.
McFarlane’s speech follows up on the AIMEX opening keynote speech by South Australian Treasurer and Mines Minister Tom Koutsantonis, who presented a strong case for why the state is poised to grow its position as a mineral resources powerhouse.
Koutsantonis said South Australia is “a state on the move” and that mining is “now a pillar of the South Australian economy”.
Speaking about mining exports for South Australia, Koutsantonis said the past financial year was a record for the state. He highlighted the importance of copper to the state’s economy and as a growth engine for the mining industry.
“There was an increase in reported energy and mining goods exports to around $7 billion,” he said. “South Australia’s largest exported commodity is copper, both refined and concentrates. That was up 17 per cent on the previous year, which reaped for our state, a record of $4.3 billion in copper exports.”
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