South Australia’s government has announced a massive $20 million investment into the state’s copper industry.
The PACE copper initiative was created to address challenges facing the state’s resources industry.
It began in September, following the launch of a consultation paper called “The Direction Paper on the Copper Strategy", which sought the views of industry, regional and Aboriginal communities, and other stakeholders on how to tackle some of the issues that could prevent South Australia from reaching its full potential as a copper producer.
The latest development under this plan is a $20 million investment, which is expected to generate more than $400 million of additional exploration and create up to 1000 jobs.
The South Australian Chamber of Mines and Energy (SCAOME) welcomed the announcement.
“It’s great to see the South Australian government listening to the industry and responding accordingly,” SACOME chief executive Jason Kuchel said.
“The government recognises the just one single mine can be a game changer for the State’s economy.
“This initiative is aimed at assisting the junior exploration sector, which is the powerhouse of finding new discoveries, to focus their very limited resources on even better targets that will be defined by this additional data.”