Funding, Government announcements, News

SACOME calls for resources funding

Hevi AI

The South Australian Chamber of Mines & Energy (SACOME) has called on the South Australian Government to prioritise funding for the resources sector.

SACOME has put forward a pre-budget submission ahead of the South Australian Government’s State Budget announcement, asking the Government to urgently address the energy transition and fund key projects that enhance access to water, improve the condition of regional roads, incentivise delivery of freight by rail, and plan for the state’s future workforce needs.

“SACOME’s recent Economic Contribution Study highlighted that 15 resource sector companies contributed $10.7 billion to the South Australian economy in 2021-22,” SACOME chief executive officer Rebecca Knol said.

“This is the equivalent to 8.3 per cent of SA’s Gross State Product, or $1 in every $12 in the state’s economy.

“As the backbone of the state’s economy, the growth of the resources sector is dependent on stable regulatory environments and the funding of critical infrastructure to enable greater access to the State’s mineral provinces.”

SACOME’s 2023-24 Budget calls include:

  • Completion and implementation of the Resources Sector Economic Heatmap and Resource Corridors Initiatives to identify the state’s mineral provinces
  • Continued upgrade and maintenance funding for regional and remote roads
  • A STEM Digital Technology Pilot to be trialled in regional schools to support the development of STEM skills and career pathways
  • Policies that incentivise the development of carbon abatement technologies such as Carbon Capture and Storage (CCS) to support net-zero targets.

“While South Australia has an abundance of untapped mineral wealth, access to water, electricity and suitable transport corridors remain major obstacles to growing and expanding the state’s mineral and resource assets,” Knol said.

“SACOME and our members are committed to working with the State Government to progress major projects, recognising that both government and industry play a role in driving economic development and sector growth.”

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