SA braces for mining boom

SOUTH Australian Premier Mike Rann says Adelaide as a prime investment destination is about to get front-page treatment.

SOUTH Australian Premier Mike Rann says Adelaide as a prime investment destination is about to get front-page treatment in prominent interstate newspapers with a major $1.1 million five-month State Government campaign starting this week.

“The first advert -“Where would you invest – the last boom town or the next?” – highlights that South Australia stands on the brink of a massive long-term boom, especially in the mining and defence sectors.

“The advertisement will appear this week on the front page of The Age, and front page of the business sections of the Sydney Morning Herald and the Weekend Australian and on page 2 of the Financial Review.

Other similar messages will feature in the newspapers from March to June.

“At the same time, an interstate migration ‘Make the Move’ campaign will also run from this month until June to raise awareness of South Australia as a great place to live and work.

“We have to get the message out there that South Australia is the State of the future with:

  • an all-time high in the number of people in jobs and full time jobs
  • all-times high in private business investment
  • an all-time high of $45 billion in major projects in prospect

“Job seekers should understand that the job scene is as good as it’s been for 30 years in this State.

“While we know the message is beginning to infiltrate the eastern seaboard that South Australia is on the cusp of a very long term economic bonanza, it’s important that business investors are aware of the huge opportunities now opening up.

“Since the introduction of the Government’s PACE mining initiative, mineral exploration has risen nearly ten fold over the past five years, now outstripping all States except WA.

“The number of operating mines has virtually doubled in the past few years including the plans to expand Olympic Dam, now valued as a trillion dollar resource, to the largest open cut mine in the world and with another 30-plus major mining projects in a queue.

“We are determined to leverage as much work for local SA contractors as we possibly can from that Olympic Dam expansion.

“Work has also begun on preparation of the Techport site at Osborne in which this State Government is investing nearly $400 million to support Australia’s largest military defence contract ever — the $8 billion Air Warfare Destroyers project.

“Construction of a defence skills centre at Techport will be completed within months.

“We’re delighted that the new Federal Government has also announced it will build its next generation of submarines in Adelaide — a massive $25 billion project.

“There are other major defence contracts coming, including the establishment by the Army of a mechanised battle group at Edinburgh that will require the construction of new housing and other buildings valued at $620 million.

“South Australia is also at the forefront of renewable energy technologies and the home of Australia’s first foreign university, Carnegie Mellon, which awards US-accredited degrees.

“We want people to know that South Australia is a State with a renewed sense of confidence that welcomes entrepreneurship and risk-taking by the shared desire of business and government to create wealth and opportunity, especially for our young people.

“We want to lock in the gains we’ve made, to create a business environment in which companies can continue to prosper and to help make South Australia the most competitive investment location in Australasia,” Rann said.

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