SACOME welcomes successful Accelerated Discovery Initiative funding announcement
The South Australian Chamber of Mines and Energy (SACOME) welcomes Minister van Holst Pellekaan’s announcement at Copper to the World Online, confirming the Round 1 Accelerated Discovery Initiative (ADI) recipients.
SACOME congratulates member companies Andromeda Metals, Boss Resources, Fortescue Metals Group, Havilah Resources Limited and Minotaur Exploration Limited for being among the 14 successful projects to receive ADI funding.
SACOME extensively lobbied the State Government in 2018 and 2019 to reinstate a Mineral Exploration Incentive program, recognising the importance of exploration incentives as an investment attraction tool; and exploration activity as critical to securing South Australia’s future resources project pipeline.
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 South Australian resources sector is well-positioned to play an important role in South Australia’s post COVID-19 recovery and the awarding of the first round of ADI grant funding will materially assist the discovery of new deposits and a continuing pipeline of resources projects and help to retain skilled jobs in the exploration sector.
SACOME acknowledges Minister van Holst Pellekaan and the work of the Department of Energy & Mining in structuring the ADI to encourage funding proposals that contemplate both existing and emerging technologies and exploration techniques.
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 congratulates member companies Andromeda Metals, Boss Resources, Fortescue Metals Group, Havilah Resources Limited and Minotaur Exploration Limited for being among the 14 successful projects to receive ADI funding.
SACOME extensively lobbied the State Government in 2018 and 2019 to reinstate a Mineral Exploration Incentive program, recognising the importance of exploration incentives as an investment attraction tool; and exploration activity as critical to securing South Australia’s future resources project pipeline.
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 South Australian resources sector is well-positioned to play an important role in South Australia’s post COVID-19 recovery and the awarding of the first round of ADI grant funding will materially assist the discovery of new deposits and a continuing pipeline of resources projects and help to retain skilled jobs in the exploration sector.
SACOME acknowledges Minister van Holst Pellekaan and the work of the Department of Energy & Mining in structuring the ADI to encourage funding proposals that contemplate both existing and emerging technologies and exploration techniques.
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.