Koutsantonis teases magnetite strategy

PERTH (miningweekly.com) – The South Australian government has unveiled plans for a magnetite strategy, similar to its copper strategy, to unlock the 14-billion tonnes of ore present in the state.

Minister for Mineral Resources and Energy Tom Koutsantonis said in Adelaide on Tuesday that the soon-to-be released magnetite strategy will emphasise to the global marketplace that South Australian magnetite was the quality choice for steelmaking.

“As companies share the plan with prospective finance partners, by inference, the strategy confirms that South Australia has a supportive government and environment as a long-term sustainable basis to grow this industry, and we should not underestimate the importance of this to the investment community,” Koutsantonis said.

The 2016 copper strategy had been aimed at tripling the state’s copper production to one-million tonnes a year within a two decades, targeting accelerating exploration and discovery, improved productivity and efficiency through innovation, and maximising community engagement to guarantee continued public support for the resources sector.