South Australia’s Minister for Mineral Resources Development Paul Holloway recently announced that Linc Energy will increase its investment in South Australia’s mining sector.
The Queensland-based company will develop its first commercial underground coal gasification and gas-to-liquid plant in the State’s Arckaringa Basin.
According to Holloway, the decision will be a positive boost for the South Australian economy.
“The decision by Linc Energy to proceed with this significant investment in South Australia will mean new jobs both in the Arckaringa Basin and in Adelaide to provide support services,” Holloway said.
“The Rann Government is also delighted Linc Energy plans to relocate engineers and drilling equipment as well as move or establish a number of relevant project services to South Australia.”
The decision by Linc Energy comes in the wake of the recent announcement by Copper Range that it will be relocating its offices from Sydney to Adelaide in order to be closer to its SA operations.
According to Holloway, South Australia’s favourable recognition in the annual ResourceStocks magazine’s World Risk Survey for 2008, where it was named the least risky jurisdiction to invest in Australian mining, has aided in such growth in the State.
“The resurgence in interest in South Australia as an investment destination for mining companies is due to the confidence building policies pursued by this Government, especially the innovative Plan for Accelerating Exploration, or PACE,” Holloway said.
“This Government’s concerted effort to cut red tape in the resources sector has already generated record-breaking growth in exploration spending, which is now being gradually transformed into investment in mine development and construction within South Australia.”