The South Australian government says 5000 new jobs will be created by 2017 when the state’s mineral and energy resources production increases to $10 billion a year.
Mineral Resources and Energy Minister Tom Koutsantonis said new figures show mineral and petroleum production in SA topped $7.5 billion in 2013/14– the highest level on record.
“This record production adds to other milestones achieved in South Australia including record investment in petroleum exploration of $531.3 million and a doubling of mining employment on a decade ago,” Koutsantonis said.
Koutsantonis said the new record is attributed to an increase in the production of iron ore, gold, copper, and uranium.
Petroleum production also spiked and is now worth $1.89 billion to the state.
By 2017, the minister said SA would create 5000 new jobs, attract a further 10 service companies and increase petroleum exploration to $1 billion.
Koutsantonis said the focus would be on keeping SA natives from leaving the state to secure work elsewhere.
"We want young South Australians to stay here, not go interstate or abroad to find work and the best way to do that is to have companies spending large amounts of capital here in South Australia because it's cheaper to hire locals," Koutsantonis said.
“We acknowledge the ongoing challenges mineral explorers face from commodity prices to accessing global risk capital. But we recognise mining is a long-term venture and we will continue to take a long-term view in the development of our resource initiatives and policies.”