In an effort to help South Australian companies connect and build relationships with large international resource and tier-one companies, the State Government of South Australia has launched a new Plan for Accelerating Exploration (PACE).
According to Minerals Resources and Energy Minister Tom Koutsantonis, PACE – to be delivered through collaboration between RESA, Austmine and the Department of State Development – will create up to 200 jobs over the next three years.
“In South Australia there are some $7 billion of mining projects at the feasibility stage, in Australia some $80 billion, but internationally there is the potential to tap into more than $250 billion. We need to build the competitiveness of South Australian companies so they can position themselves as globally relevant and able to export their products and services to resource and energy companies around the world,” Mr Koutsantonis said in a statement.
“Up to 40 companies will be supported to focus on their export readiness and business development capabilities so they can meet the supply and procurement demands of local and international mining and energy projects. And 20 non-mineral and energy suppliers will be supported to diversify into the minerals and energy resources sector.”
The PACE Program will be delivered in 3 stages: Stage 1 of the Program will incorporate identification of the companies that want access to the resources sector for the first time; State 2 will aim to boost capability by improving a company’s business plan in order to extract more value from its products or services; and Stage 3 will aim to connect companies that display technical and commercial capability to industry-specific mentors.
Last week, the SA State Government also launched the PACE Copper – a $20 million initiative set to deliver the world’s largest high-resolution, airborne geophysical and terrain imaging program to encourage further exploration and investment in South Australia’s Copper Belt.