Critical Minerals focus for Accelerated Discovery Initiative
SACOME member companies Coda Minerals, FMG Resources and Hillgrove Resources for have received funding in Round 2 Accelerated Discovery Initiative (ADI) funding.
Coda Minerals’ exploration target at Emmie Bluff hosts copper, cobalt and silver all of which are needed in the supply of electric vehicles, solar panels and lithium-ion batteries.
Hillgrove Resources operated the successful Kanmantoo Copper Mine and funding will go towards drill testing a new near mine target and further advancing studies in the South East of South Australia.
FMG are funded to undertake exploration for iron-oxide copper-gold in the underexplored but highly prospective Curnamona and Gawler Craton provinces. Additionally, FMG in partnership with the University of Adelaide have secured funding to advance understanding of the Vulcan IOCG prospect north of Olympic Dam. This co-funding will mobilise new and innovative research techniques in tandem with some of the best geoscientists in South Australia.
ADI funding will assist these companies to undertake exploration drilling and geophysical surveys; engage in collaboration with research institutions to develop new ‘deep cover’ geophysical techniques; and support greater levels of Aboriginal employment.
Our sector was born in 1840 when silver and copper were discovered in South Australia, garnering the State recognition as the ‘Copper Kingdom’. Today copper and other critical minerals are just as important to the technological revolution and are the materials that enable us to push the boundaries of science.
Exploration activity will materially assist both the sector and the State in building the knowledge base about these valuable prospects.
The resources sector is powering the State’s economy with $1 in every $20 flowing to the economy funding schools, roads, hospitals and services. With a whole of state impact, the resources sector is important to the prosperity of metropolitan and regional areas.
SACOME lobbied the Marshall Government to reinstate a Mineral Exploration Incentive in 2018, with the ADI subsequently funded in the 2019-20 State Budget. SACOME commends the Government on increasing funding in the second round from $3 million to $4.5 million in response to the impact of the COVID-19 pandemic.
SACOME reiterates its Pre-Budget calls for the Government to both continue and expand funding for this important initiative in the upcoming State Budget.
Rebecca Knol, Chief Executive Officer, said “The $5.9 billion contribution to the South Australian economy is the equivalent to 5.3% of South Australia’s Gross State Product (GSP), or $1 in every $20 in the South Australia economy; and supports 24,985, or 1 in 33 South Australian jobs.”
“Exploration is critical in ensuring a future pipeline of resources projects for the State. The discoveries of today will be the mines of tomorrow”.
“Continued and expanded funding of the ADI is consistent with the South Australian Government economic growth objectives and will ensure the sector continues its significant contribution to the state economy.”
Coda Minerals’ exploration target at Emmie Bluff hosts copper, cobalt and silver all of which are needed in the supply of electric vehicles, solar panels and lithium-ion batteries.
Hillgrove Resources operated the successful Kanmantoo Copper Mine and funding will go towards drill testing a new near mine target and further advancing studies in the South East of South Australia.
FMG are funded to undertake exploration for iron-oxide copper-gold in the underexplored but highly prospective Curnamona and Gawler Craton provinces. Additionally, FMG in partnership with the University of Adelaide have secured funding to advance understanding of the Vulcan IOCG prospect north of Olympic Dam. This co-funding will mobilise new and innovative research techniques in tandem with some of the best geoscientists in South Australia.
ADI funding will assist these companies to undertake exploration drilling and geophysical surveys; engage in collaboration with research institutions to develop new ‘deep cover’ geophysical techniques; and support greater levels of Aboriginal employment.
Our sector was born in 1840 when silver and copper were discovered in South Australia, garnering the State recognition as the ‘Copper Kingdom’. Today copper and other critical minerals are just as important to the technological revolution and are the materials that enable us to push the boundaries of science.
Exploration activity will materially assist both the sector and the State in building the knowledge base about these valuable prospects.
The resources sector is powering the State’s economy with $1 in every $20 flowing to the economy funding schools, roads, hospitals and services. With a whole of state impact, the resources sector is important to the prosperity of metropolitan and regional areas.
SACOME lobbied the Marshall Government to reinstate a Mineral Exploration Incentive in 2018, with the ADI subsequently funded in the 2019-20 State Budget. SACOME commends the Government on increasing funding in the second round from $3 million to $4.5 million in response to the impact of the COVID-19 pandemic.
SACOME reiterates its Pre-Budget calls for the Government to both continue and expand funding for this important initiative in the upcoming State Budget.
Rebecca Knol, Chief Executive Officer, said “The $5.9 billion contribution to the South Australian economy is the equivalent to 5.3% of South Australia’s Gross State Product (GSP), or $1 in every $20 in the South Australia economy; and supports 24,985, or 1 in 33 South Australian jobs.”
“Exploration is critical in ensuring a future pipeline of resources projects for the State. The discoveries of today will be the mines of tomorrow”.
“Continued and expanded funding of the ADI is consistent with the South Australian Government economic growth objectives and will ensure the sector continues its significant contribution to the state economy.”