South Australian mining exports increased to more than $5b in 2023

Mining exports in South Australia increased by 14.3% in 2023.
Mining exports in South Australia increased by 14.3% in 2023.

Mineral and petroleum exports have increased by 14.3% to more than $5b in 2023, according to figures from the Australian Bureau of Statistics (ABS).

Of the $17.9b in exports recorded in 2023, the resources sector contributed $5b, however, this doesn’t include an additional $2b in confidential energy and mineral goods.

More than $3b came from iron and steel, refined copper and lead — highlighting the significance of the energy and mining sectors driving South Australia’s export growth. Furthermore, iron ore exports reached almost $1.2b for the year.

South Australian Energy and Mining Minister Tom Koutsantonis commented on the exports.

“We are seeing the resources sector thrive as we focus on the global energy transition. Shifting towards exporting more value-added products, like refined copper, is the right direction for South Australia’s economy,” he said.

“Copper’s indispensability to electrification technologies makes it a critical mineral for global decarbonisation. Forecasts predicting a surge in global copper demand surpassing current supply capabilities presents a very big opportunity for South Australia.

“We host 70% of Australia’s copper resource. We’re in prime position to open up opportunities for growing our economy through our resource exports and assist other countries as they transition to low carbon economies.”

The resources sector 2023 exploration spending was the highest since 2012 — when tens of million of dollars were spent discovering the extent of the Carrapateena and Prominent Hill copper mines.

Hosting 16.8bt of magnetite iron resources in the Northern Gawler, Southern Gawler and Braemar provinces it could be beneficial using hydrogen to extract the ore.

With the resources sector already a pillar of South Australia’s economy, exporting a green product would be game-changing.

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