Neighbours unite to reach resources potential

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 15 Oct 2013   Posted by admin


A Memorandum of Understanding (MoU) initiated between the NSW and South Australian Governments aims to increase investment and economic development in mineral resources near the shared border.
NSW Resources and Energy minister Chris Hartcher and SA Mineral Resources and Energy minister Tom Koutsantonis formally agreed to guide areas of responsibility for joint cooperation between the NSW Trade and Investment department and the SA Manufacturing, Innovation, Trade, Resources and Energy department in Broken Hill.
The scope of the MoU focussed on creating joint programs to promote exploration and investment, by positioning the governments as proactive jurisdictions that would welcome overseas investment; developing
alignment between the geological and regulatory system in both states; and generating a renewed commitment tocollaborative exploration initiatives for key commodities.
“There are many resource companies in this area looking for investment to not only develop the mineral resources but also for infrastructure to provide a pathway to market,” Mr Koutsantonis said.
He cited the major development of the Braemar bulk export project as an example of the potential for jobs and investment in the cross-border region.
“This collaboration should also assist in raising the profile of the uranium and base metal rich Curnamona Province as a destination for resource-related investment, and will ensure both the states reach the full potential offered by our mineral endowment, especially in the Braemar Province,” Mr Hartcher said.
There are currently two uranium mines operating on the SA side of the border – Honeymoon and Beverley – and Mr Hartcher told ABC News that he wanted to learn from the state’s experience with uranium.
“We want to develop our resources for the benefit of this area and we’ll be relying a lot on the information, the knowledge and the expertise that the South Australians have been able to acquire,” Mr Hartcher said.
Mr Koutsantonis said access to his state’s knowledge should allow for faster development of uranium projects in NSW, while also preventing the reptition of any mistakes experienced in SA.