Resources again key economic priority for SA: SACOME welcomes budget
The South Australian Chamber of Mines and Energy (SACOME) welcomes the announcement of the South Australian Budget with the resources sector again highlighted as a key economic priority.
The Treasurer again stated the importance of the resources sector in South Australia with its economic standing reflected in the most recent figures being that in 2014/15 the minerals and petroleum sector had a gross value of product at $5.958 billion and regionally the industry contributed a gross regional product of $6.377 billion.
Jason Kuchel, Chief Executive, SACOME said “It is important to remember the value of our resources sector and what it does for not only our cities, but the regional hubs of our state. Regional towns near mining operations rely on those projects to stimulate life into their economies.”
Whyalla/Arrium
As promised before the budget announcement, $50 million was also allocated to the Whyalla Steelworks over two years for technological efficiencies or upgrades of the Whyalla operations.
“These steps are critical for the regional economy and employment in the town. Thousands of people will, and already are, affected by this, so it is good to see the state Government being proactive,” said Mr Kuchel.
Co-produced water levy
SACOME also welcomed the Government’s decision to pay the co-produced levy on water to the SA Arid Lands Board and is not seeking to recover this contribution from the resources sector.
“Our position is that this levy should be abolished all together, as it is water that would not ordinarily be used by other industries or private users, and no other jurisdiction globally charges for co-produced water” said Mr Kuchel.
Nuclear Fuel Cycle Royal Commission
The State Budget also allocated $3.6million to engage with the community and to develop an informed response to the Final Report of the Nuclear Fuel Cycle Royal Commission
Electricity Reliability and Security
The budget assigned $500,000 to a detailed assessment of increased electricity connections between South Australia and the National Electricity Market (NEM).
This is critical to ensuring security and reliability of supply to businesses in SA. SACOME looks forward to working closely with industry and the government on this vital connection between SA and the NEM”.
Supporting innovation and safety
SACOME also received $400,000 over two years for the employment of an industry connections manager to enable us to work closely with core industry and service providers, a safety summit to be conducted in 2016/17, sponsorship of the South Australian Mines Emergency Response Competition and for the ongoing establishment of an annual innovation summit which will take place on September 23, 2016.
And more…
Further factors that impacted on the SA resources sector are below;
The South Australian Chamber of Mines and Energy (SACOME) welcomes the announcement of the South Australian Budget with the resources sector again highlighted as a key economic priority.
The Treasurer again stated the importance of the resources sector in South Australia with its economic standing reflected in the most recent figures being that in 2014/15 the minerals and petroleum sector had a gross value of product at $5.958 billion and regionally the industry contributed a gross regional product of $6.377 billion.
Jason Kuchel, Chief Executive, SACOME said “It is important to remember the value of our resources sector and what it does for not only our cities, but the regional hubs of our state. Regional towns near mining operations rely on those projects to stimulate life into their economies.”
Whyalla/Arrium
As promised before the budget announcement, $50 million was also allocated to the Whyalla Steelworks over two years for technological efficiencies or upgrades of the Whyalla operations.
“These steps are critical for the regional economy and employment in the town. Thousands of people will, and already are, affected by this, so it is good to see the state Government being proactive,” said Mr Kuchel.
Co-produced water levy
SACOME also welcomed the Government’s decision to pay the co-produced levy on water to the SA Arid Lands Board and is not seeking to recover this contribution from the resources sector.
“Our position is that this levy should be abolished all together, as it is water that would not ordinarily be used by other industries or private users, and no other jurisdiction globally charges for co-produced water” said Mr Kuchel.
Nuclear Fuel Cycle Royal Commission
The State Budget also allocated $3.6million to engage with the community and to develop an informed response to the Final Report of the Nuclear Fuel Cycle Royal Commission
Electricity Reliability and Security
The budget assigned $500,000 to a detailed assessment of increased electricity connections between South Australia and the National Electricity Market (NEM).
This is critical to ensuring security and reliability of supply to businesses in SA. SACOME looks forward to working closely with industry and the government on this vital connection between SA and the NEM”.
Supporting innovation and safety
SACOME also received $400,000 over two years for the employment of an industry connections manager to enable us to work closely with core industry and service providers, a safety summit to be conducted in 2016/17, sponsorship of the South Australian Mines Emergency Response Competition and for the ongoing establishment of an annual innovation summit which will take place on September 23, 2016.
And more…
Further factors that impacted on the SA resources sector are below;
- Government extending the tax rebate on small business payroll for a further four years to give a maximum saving of $9,800 for businesses that have a payroll of around $1million.
- Amendments to be considered for the Petroleum and Geothermal Energy Act.
- The implementation of a Magnetite Strategy.
- Further funding of the refurbishment of the Port Bonython jetty.