South Australian Government investing in mineral exploration, data and innovative technology
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About the initiative
The Accelerated Discovery Initiative (ADI) will provide co-funding opportunities to greenfields exploration activities to support new major minerals discoveries, drive further mine developments and stimulate growth, investment, exports, jobs and innovation in the South Australian mineral resources sector. The ADI funding commitment is $3.3M per year, with the total cost capped at $10M over 2019–2020.
The ADI will be open to all mineral commodities, however alignment with the Government's commodity based strategies will be considered, including Copper to the World, Magnetite Strategy, and the proposed battery minerals strategy (e.g. cobalt and graphite).
South Australia's Accelerated Discovery Initiative was announced by Dan van Holst Pellekaan, the Minister for Energy and Mining on 4 June 2019.
“Opening new mines with significant deposits of copper, gold, and other strategic minerals such as uranium and cobalt will deliver new investment, jobs and increased royalties to finance South Australia’s health, education and transport systems.
“By accelerating our knowledge and adopting cutting-edge technology, we’ll help bring additional mines to market sooner, and more growth to South Australia."
The objectives of the ADI are:
- Co-funding to exploration companies or to collaborative projects for greenfields mineral exploration activities
- Enable multiple users to benefit in the short-term from exploration activity and accelerate the uptake of innovative technologies
- Facilitate employment and upskilling of Aboriginal employees or businesses by part funding employment and and/or training during exploration programs
Mineral exploration activities may include:
- Exploration drilling - single deep holes and or multiple hole programs in frontier terrains or testing new concepts in other areas
- Geophysical programs that focus on the application of innovative technology and concepts
- Proof-of-concept proposals that are not restricted to a technical discipline to encourage innovation in the sector
- Logistical support associated with testing exploration targets in remote greenfields/new frontier regions
- Identification and testing to Environment Protection Authority (EPA) prescribed guidelines of new groundwater resources
- Collaborative technology and/or machine learning projects that will benefit exploration
Outcomes of the ADI will include:
- Major contribution to achieving the South Australia Growth Agenda target through the discovery of new mineral resources
- Build South Australia’s international market profile through the attraction of new investors to the State’s mineral resources sector willing to develop and test innovative exploration concepts and technology
- Build South Australia’s reputation as a place to successfully undertake innovative research and development by facilitating collaborative opportunities with universities, cooperative research centres (CRCs), Geological Survey of South Australia (GSSA) and other industries, including the Mining, Equipment, Technology and Services (METS) sector
- Improve broader market conditions for capital raising and accelerate third party exploration programs on co-located exploration licences
- Discovery of new groundwater resources that will aid the development of regional communities, agricultural industries and new resource projects
Register to receive more information
More details about the ADI will be provided in coming months.