Hon Dan van Holst Pellekaan MP, Minister for Energy and Mining
Hon David Ridgway MLC, Minister for Trade, Tourism and Investment
The Marshall Government has today released a consultation paper seeking industry feedback on the development of a bold agenda for growth in the energy and mining sectors of South Australia’s economy.
The Sustainably Growing Energy and Mining in South Australia consultation paper was developed with input from the energy and mining sectors to identify initiatives that will contribute to the South Australian Growth Agenda.
“South Australia has the capacity to become a powerhouse in energy and mining, bringing jobs, opportunity and investment to our state,” said Minister for Mining and Energy Dan van Holst Pellekaan.
“The South Australian Growth Agenda will build on our natural advantages in renewable energy and the immense promise of our mineral resources.
“We have a critical role in creating Australia’s prosperity through the delivery of affordable, reliable and clean energy to the nation and the production and export of our resources wealth.
“The consultation paper seeks industry feedback on a Strategy that acknowledges the role renewable energy, oil, gas, mining and quarrying have in powering our industries and homes.
“The consultation will address what infrastructure is needed to grow our exports and sets out practical steps to build support for continued development.”
The South Australian Growth Agenda has identified energy and mining as one of eight agreed potential growth sectors contributing to the target of a sustainable 3 per cent annual economic growth rate in the next five to eight years.
Minister for Trade, Tourism and Investment, David Ridgway said South Australia’s energy and mining sectors already contribute a substantial 8 per cent share of the state’s economic output.
“Energy and mining employ more than 41,000 people across the State, with many of those people working in regional South Australia,” Mr Ridgway said.
“Oil and gas extraction and mining and quarrying production together generate annual gross value of production for the State of more than $5 billion.
“Electricity and gas supply contribute a further $3.5 billion to the gross value of production.
“Despite this considerable contribution to the economy, the Energy and Mining Strategy identifies potential to deliver even greater benefits to South Australians.”
The four energy and mining targets proposed in the consultation paper are:
- International exports are to increase from $5.3 billion in this financial year to $8 billion in 2025 and $13 billion by 2030.
- Private exploration expenditure will increase from $158 million a year in 2018 to a sustainable average of $300 million a year by 2025.
- New capital investment in the energy and mining sectors to total $18 billion across seven years to 2025.
- Energy supplies in South Australia are to be nationally competitive before 2025 and internationally competitive by 2030.
Download a copy of the Sustainably Growing Energy and Mining in South Australia consultation paper (PDF 1.4 MB)
Feedback on the consultation paper can be made through the:
Input to the consultation paper will inform the initiatives adopted in the Energy and Mining Strategy to be published in November this year.
Wednesday 2 October 2019