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South Australia Commits To Next Mining Boom

June 6, 2012 • Mining & Resources

The South Australian Government will commit $2 million to support an expansion of pre competitive mineral exploration data within the highly prospective Gawler Craton.

Focusing within the Woomera Prohibited Area (WPA), which is expected to be highly prospective, the location is roughly the size of England and is estimated to be worth more than $35 billion dollars.

”Worth more than an estimated $35 billion of potential development including iron ore, gold and uranium prospects the WPA already hosts a number of mines, including the Challenger gold mine, Prominent Hill copper-gold mine and Peculiar Knob, high grade iron ore mine.’

Treasurer Jack Snelling revealed the funding will be included in the State Budget, with the hopes to further unlock the potential of the Gawler Craton in the north of the state.

“Billions of dollars of spending on exploring in this State have already been unleashed by the Plan for Accelerating Exploration and pro-mining policies,” Mr Snelling said.

“This new investment in addition to the ongoing work of PACE 2020 aims to extend this level of investment into the underexplored areas of the WPA.

“It will also provide valuable geo-scientific information that the State Government and Australian Governments can use to effectively manage a framework of co-existence of mining and defence interests in this strategically important area for Australia.

Mr Snelling believes the governments key priorities is to pass on the benefits of the mining boom for all South Australians, insisting the government is committed to the expansion of a strong resource industry, with continuos exploration.

Also included in the budget is $960,000 of funding,  for the initial design and scoping work for the development of the state’s drill core library facilities – to promote exploration for minerals, petroleum, gas and geothermal energy in South Australia. The aim of the funding, is to lay the foundation for the creation of a Resource Information Centre, ‘with the world renowned drill core library at its heart.’

The State Drill Core Reference Library houses drill core and rock cutting samples from resource exploration and mining activity across the State. The archives dates back from the present day to the late 1800s.

Mineral Resources and Energy Minister Tom Koutsantonis said “South Australia’s core library, together with the online resources provided by SARIG – the South Australian Resources Information Geoserver – have been consistently voted World’s no. 1 by the annual Fraser Institute Survey of global mining jurisdictions.”

‘The continued expansion of our States resources industry has seen major investment in minerals, petroleum, gas and geothermal energy securing a predicted $34 billion of resource projects in the pipeline.



Source:
http://www.premier.sa.gov.au/

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