SACOME urges strong response to build SA exploration pipeline
The South Australian Chamber of Mines and Energy (SACOME) has called on exploration companies to act quickly and apply for funding under the South Australian Government’s Accelerated Discovery Initiative (ADI).
It has also welcomed the launch of ExploreSA: The Gawler Challenge program, an international crowd geoscience competition aimed at accelerating mineral discovery, supporting innovation and stimulating exploration investment from what is a highly prospective region of the state.
The Minister for Energy and Mining, Dan van Holst Pellekaan today announced that Expressions of Interest (EOI) under the ADI, a $10 million Government fund aimed at helping discover new mineral resources in South Australia and growing jobs and investment in the State, had opened.
EOIs will close on 20 December with successful candidates being informed in the new year.
SACOME’s Chief Executive Officer, Rebecca Knol, said the ADI was the most innovative co-funding program in Australia.
“Exploration incentives are a proven economic multiplier, with $23 million in returns generated for each $1 million invested,” she said.
“This means the ADI could potentially generate around $230 million in benefit to South Australia as untapped resources are identified and unlocked.
“This is good news for the State’s exploration sector and we welcome the Government’s decision to open the EOI phase today. It will play a major role in the establishing a pipeline of new developments which will be vital in supporting the State Growth Agenda.”
Ms Knol said that while today’s announcement was positive, consideration also needed to be given to ensuring infrastructure was in place to help develop any new discovery.
“Any resources that are discovered are only valuable if the minerals can be brought to market,” she said.
“This relies on having the appropriate infrastructure in place. Otherwise any discoveries risk becoming stranded assets.”
Ms Knol said entrants in ExploreSA: The Gawler Challenge program would have access to high quality data from the world-leading Gawler Craton Airborne Survey (GCAS), Olympic Dam Infill and AUSLAMP program, along with SA’s other public geoscience datasets.
Entrants are encouraged to identify potential copper, gold or other commodities deposits that may lead to mining activity.
The competition, hosted on the Unearthed digital platform, will launch in early 2020 with prize money of $250,000.
Further information about the Accelerated Discovery Initiative can be found here.
Further information about ExploreSA: The Gawler Challenge can be found here.
Media contact:
Rebecca Knol, CEO SACOME, 0409 012 007
About SACOME
The South Australian Chamber of Mines and Energy is the peak industry association representing companies with interests and connections to the South Australian resources and energy sector.
It has also welcomed the launch of ExploreSA: The Gawler Challenge program, an international crowd geoscience competition aimed at accelerating mineral discovery, supporting innovation and stimulating exploration investment from what is a highly prospective region of the state.
The Minister for Energy and Mining, Dan van Holst Pellekaan today announced that Expressions of Interest (EOI) under the ADI, a $10 million Government fund aimed at helping discover new mineral resources in South Australia and growing jobs and investment in the State, had opened.
EOIs will close on 20 December with successful candidates being informed in the new year.
SACOME’s Chief Executive Officer, Rebecca Knol, said the ADI was the most innovative co-funding program in Australia.
“Exploration incentives are a proven economic multiplier, with $23 million in returns generated for each $1 million invested,” she said.
“This means the ADI could potentially generate around $230 million in benefit to South Australia as untapped resources are identified and unlocked.
“This is good news for the State’s exploration sector and we welcome the Government’s decision to open the EOI phase today. It will play a major role in the establishing a pipeline of new developments which will be vital in supporting the State Growth Agenda.”
Ms Knol said that while today’s announcement was positive, consideration also needed to be given to ensuring infrastructure was in place to help develop any new discovery.
“Any resources that are discovered are only valuable if the minerals can be brought to market,” she said.
“This relies on having the appropriate infrastructure in place. Otherwise any discoveries risk becoming stranded assets.”
Ms Knol said entrants in ExploreSA: The Gawler Challenge program would have access to high quality data from the world-leading Gawler Craton Airborne Survey (GCAS), Olympic Dam Infill and AUSLAMP program, along with SA’s other public geoscience datasets.
Entrants are encouraged to identify potential copper, gold or other commodities deposits that may lead to mining activity.
The competition, hosted on the Unearthed digital platform, will launch in early 2020 with prize money of $250,000.
Further information about the Accelerated Discovery Initiative can be found here.
Further information about ExploreSA: The Gawler Challenge can be found here.
Media contact:
Rebecca Knol, CEO SACOME, 0409 012 007
About SACOME
The South Australian Chamber of Mines and Energy is the peak industry association representing companies with interests and connections to the South Australian resources and energy sector.