Mining exploration in South Australian has collapsed with spending on exploration dropping by at least 53 per cent since the 2007-2008 financial years.

 

Australian Bureau of Statistics released yesterday show that in 2009-10 SA minerals exploration spending was down by 53 per cent on 2007-08 spending.

 

Mitch Williams, Shadow Minister for Mineral Resources said that over the past few years under the Rann Government spending on mineral exploration had fallen.

 

“In 2009-10, South Australian minerals exploration spending was down by 24 per cent (or $53 million) compared to 2008-09,” Mr Williams said.

 

“Yet nationally mineral exploration spending rose by 1.1 per cent.

 

“The instalment of a Gillard Labor/Green Coalition Government and the impending impact of the Mining Tax, spells a dismal future for mineral exploration development in South Australia.

 

“Under the Rann Labor Government there has been no South Australian ‘mining boom’ just a ‘boom’ of hot air and mining rhetoric delivered by the Premier.”