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SA, NSW join forces to attract resource investment::

The South Australian and New South Wales Governments today initiated a partnership aimed at maximising investment and economic development in mineral resources near the States' shared border.

South Australia's Mineral Resources and Energy Minister, Tom Koutsantonis and NSW Resources and Energy Minister, Chris Hartcher and signed a Memorandum of Understanding to guide areas of responsibility for joint cooperation.

The Ministers signed the MOU between the New South Wales Department of Trade and Investment and the South Australian Department for Manufacturing, Innovation, Trade, Resources and Energy in Broken Hill, a city with a long history of driving economic development on both sides of the border.

The scope of the MOU is primarily focussed on creating joint programs to promote exploration and investment in the border region's unique geology and mineral systems.

The MOU will guide joint initiatives:

• To promote the NSW and SA Governments as proactive jurisdictions that welcome overseas investment in minerals and energy projects;
• To develop alignment where possible between the geological and regulatory information and systems in both jurisdictions; and
• Generate a renewed commitment to collaborative exploration initiatives for key commodities.

Mr Hartcher said the NSW and SA Governments share significant strengths in the resources sector that could be used more strategically to attract investment.

"This collaboration should also assist in raising the profile of the uranium and basemetal rich Curnamona Province as a destination for resource-related investment, and will ensure both States reach the full potential offered by our mineral endowment especially in the Braemar Province," Mr Hartcher said.

"These initiatives should also provide a foundation for seeking federal and other funding opportunities for combined strategic infrastructure investment."

Mr Koutsantonis said last week's declaration of the Braemar Bulk Export Project as a major development highlights the potential for jobs and investment in the crossborder region.

"There are many resource companies in this area looking for investment to not only develop the mineral resources but also for infrastructure to provide a pathway to market," he said.

03 October 2013