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News release - Tom Koutsantonis

Renewal of Chile-South Australia MoUChile and South Australia today renewed the mineral resources partnership between the two mining jurisdictions, with the re-signing of a Memorandum of Understanding for a further five years.

The MoU has been strengthened by widening the exchange of information to include regulatory practices in the two jurisdictions. Previously, the exchange of information was more focused on geology and exploration technology, with a focus on copper mining.

The partnership enables Chile to benefit from South Australia's expertise in mineral exploration deep below cover, while South Australia hopes to encourage investment from Chilean companies in the local mining sector.

A Chilean Government delegation led by Mr Ignacio Moreno, Undersecretary of Mining, met with Mineral Resources and Energy Minister Tom Koutsantonis today to sign the MoU.

While in South Australia the delegation will visit Tonsley, Australia’s first innovation district and home to the South Australia Drill Core Reference Library, and also Olympic Dam.

Background

South Australia and Chile are two of the world’s most prospective copper provinces.

The MoU established in 2012 between the Governments of South Australia and the Republic of Chile formalised a strong partnership to maximise economic development of their respective mineral sectors through cooperating on the exchange of scientific and technical knowledge.

The renewal of this MoU, signed by Mr Rodrigo Alvarez the Director of the National Geology and Mining Service (SERNAGEOMIN) of Chile and Minister for Mineral Resources and Energy Tom Koutsantonis, extends the partnership a further five years from 2016 until 2021.

The renewed MoU builds on continuous technical and scientific improvement, and it has been expanded to exchange leading practices for environmental management and the regulation of major mining operations.