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The South Australian Chamber of Mines and Energy (SACOME) welcomes today’s $800 million alliance deal announcement by SACOME’s newest member, CU-River Mining Australia, to expand its Cairn Hill mine.
SACOME has been involved in the development of the South Australia’s Magnetite Strategy which charts a course to achieve target production of 50 million tonnes (mt) of magnetite per annum by 2030. CU-River’s news today supports this outcome with an ultimate production target of 15 mt per annum.
The resources sector generates 34% of South Australia’s exports worth $4 billion, making it our state’s highest value export; representing $6.4 billion of Gross State Product, employment of 26,740 South Australians, and a $208 million contribution to total State Government Revenue.*
Rebecca Knol CEO SACOME said: “Yet another good news story for SA, following recent announcements by BHP on their Southern Mine Area expansion and OZ Minerals Carrapateena project.
“Expansion of the Cairn Hill mine forms part of an exciting pipeline of discoveries and projects that support a sustainable and profitable resources sector, contributing to the South Australian economy.”
Media contact: Rebecca Knol, CEO SACOME, 0409 012 007
*Department of Premier & Cabinet 2017