SACOME welcomes Federal Government’s moves to strengthen resources exploration
The South Australian Chamber of Mines and Energy (SACOME) welcomes today’s announcement by the Federal Government to invest a further $125 million into Geoscience Australia’s ‘Exploring for the Future’ program and to expand the program to cover the whole of Australia.
SACOME has long advocated for the continuation and expansion of the program, consistent with the direction proposed in the National Resources Statement, to open new regions for resources sector investment by supporting resource exploration and province development.
In South Australia, exploration incentive programmes have been responsible for catalysing an extra $700 million in mineral exploration investment increasing State mining revenue to $2.4 billion, amply demonstrating their economic benefits and return on investment for government.
Rebecca Knol, Chief Executive Officer said “The strength of the resources sector has underpinned the South Australian economy during the turbulence of the coronavirus pandemic, providing much-needed job stability at a time where stability was most needed.
The South Australian resources sector is well positioned to play an important role in the nation’s post COVID-19 recovery and exploration incentives such as the ‘Exploring for the Future’ program is critical to the discovery of new deposits and ensuring a continuing pipeline of resources projects and jobs.
Expansion of the program will assist exploration investment in South Australia, helping to overcome our jurisdictional challenge of deep-cover, and facilitating greater levels of exploration activity in our State at a time when it is most needed.
SACOME acknowledges Minister Pitt’s support for the resources sector during the COVID-19 pandemic and welcomes this practical measure to support employment and economic growth.
The South Australian resource sector is the engine room of the South Australian economy employing 26,000 people directly and indirectly, delivering $6.4 billion in production, $5.3 billion in exports and $299 million in royalties to South Australians.
Media contacts:
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.
SACOME has long advocated for the continuation and expansion of the program, consistent with the direction proposed in the National Resources Statement, to open new regions for resources sector investment by supporting resource exploration and province development.
In South Australia, exploration incentive programmes have been responsible for catalysing an extra $700 million in mineral exploration investment increasing State mining revenue to $2.4 billion, amply demonstrating their economic benefits and return on investment for government.
Rebecca Knol, Chief Executive Officer said “The strength of the resources sector has underpinned the South Australian economy during the turbulence of the coronavirus pandemic, providing much-needed job stability at a time where stability was most needed.
The South Australian resources sector is well positioned to play an important role in the nation’s post COVID-19 recovery and exploration incentives such as the ‘Exploring for the Future’ program is critical to the discovery of new deposits and ensuring a continuing pipeline of resources projects and jobs.
Expansion of the program will assist exploration investment in South Australia, helping to overcome our jurisdictional challenge of deep-cover, and facilitating greater levels of exploration activity in our State at a time when it is most needed.
SACOME acknowledges Minister Pitt’s support for the resources sector during the COVID-19 pandemic and welcomes this practical measure to support employment and economic growth.
The South Australian resource sector is the engine room of the South Australian economy employing 26,000 people directly and indirectly, delivering $6.4 billion in production, $5.3 billion in exports and $299 million in royalties to South Australians.
Media contacts:
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.