THE South Australian Government has partnered with New South Wales in a bid to stimulate resource investment for both states, a joint statement announced last week.

Signed by SA resources and energy minister Tom Koutsantonis and NSW resources and energy minister Chris Hartcher, a new Memorandum of Understanding will focus on joint programs to incentivise and develop potential resource exploration on both sides of their shared border.

The MOU will guide joint initiatives to:

  • 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.

“This collaboration should assist in raising the profile of the uranium and base-metal 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.

He also said the initiatives would support federal funding opportunities for strategic infrastructure investment, while Mr Koutsantonis hailed the MOU as a precursor for job creation and economic growth.

“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.

The MOU is a joint agreement 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.