Mining urges new government on deep sea port

South Australia’s mining industry has called on the new Coalition Government to push ahead with its promised exploration development incentive.

The South Australian Chamber of Mines and Energy (SACOME) wasted no time in giving Prime Minister-elect Tony Abbott a few suggestions to boost the industry.

“The exploration sector is the engine room of our resources sector, and an exploration tax credit scheme is vital in encouraging investment as it allows investors an immediate return on their investment, ” SACOME’s chief executive Jason Kuchel said today.

“It also addresses the current lack of access to urgently needed capital to fund a waiting list of projects.

“The South Australian resources industry is crying out for a multi-user deep water port and upgrade to the electricity transmission network along the Eyre Peninsula in order for our true resources potential to be realised.

“SACOME believes the incoming government should use bodies like Infrastructure Australia and the Export Finance and Insurance Corporation (EFIC) to provide funding agreements to stimulate infrastructure in the State, and we look forward to working with the resources industry and new government to see vital port and transmission infrastructure delivered.

“The future of South Australia is reliant on the passage of these positive policies to ensure economic prosperity and a State open for business again.”

SACOME said it will also work with the Coalition to address 10 key federal policy priorities of importance to the sector, including rescinding the Mineral Resources Rent Tax (MRRT) and carbon tax; resolving the State’s infrastructure crisis; streamlining environmental approvals; and addressing technical and offset changes to the Petroleum Resources Rent Tax (PRRT).

Kuchel called on Labor to support the changes.

“SACOME calls upon the Opposition to work with the new Federal Government to ensure the implementation of these major reforms without delay.”

The Independent Weekly

KEVIN NAUGHTON | 11 SEPTEMBER 2013