Andrew Cole, the Chief Executive of OZ Minerals, Australia’s third largest copper producer, has announced that the company will be relocating its head office from Melbourne to Adelaide.
South Australia’s Premier Jay Weatherill welcomed the announcement and revealed that the State Government will invest $10 million in a new research partnership with OZ Minerals and local universities aimed at improving the quality of copper concentrates produced in the State.
“The heart of OZ Minerals’ operations has always been in South Australia and it is great news the company has now chosen to call Adelaide its home. The move makes sense as OZ Minerals’ two major copper assets; Prominent Hill and Carrapateena are here in South Australia. This sends a clear signal to other resource and energy companies that South Australia wants to be the nation’s resources hub and we are prepared to invest in innovation to grow business and create new jobs,” Mr Weatherill said in a media release.
OZ Minerals will contribute $18 million to the partnership and build a demonstration plant in South Australia.
The State Government and the mining company will join forces to facilitate the development of South Australian copper projects.
“Realising the full potential of our State’s copper assets is a key economic imperative for the State Government. The technical side of the partnership includes the State Government investing $10 million toward new research on methods to upgrade the quality of copper concentrates produced in the State,” said SA’s Mineral Resources and Energy Minister Tom Koutsantonis.
“This will have benefits, not just for OZ Minerals, but for resources companies with interests in copper extraction, reaffirming South Australia as a leader in mining and energy innovation. OZ Minerals has also agreed to engage with local universities to assist with its research. We will also collaborate with OZ Minerals to develop infrastructure in the State’s Far North that could further improve the economic case for proceeding with Carrapateena. Both aspects of this collaboration between Government and a major resource company could assist in unlocking significant value across South Australia’s eastern Gawler Craton.”
OZ Minerals owns and operates the high quality Prominent Hill copper-gold mine and Carrapateena advanced copper-gold exploration project, both located in South Australia.