South Australia is facing a continuous mining boom, and deserves to be rerated like a successful exploration company on the stock market, according to a primary industries expert.
The executive director of Primary Industries and Resources SA, Paul Heithersay, said there was enough evidence of successful exploration in the state, coupled with a strong Chinese demand for resources, to reject concerns the mining boom would inevitably lead to a bust.
"We can't see a bust because the commodities we have are the ones that China needs -- copper, zinc, iron ore, zircon," he said. "Australia is one of the main producers of these and SA now has a big chunk of that sector. And uranium of course."
He compared the state's economy to a company that had announced the discovery of a new mineral resource
…Mining now contributes 24 per cent of SA's export income, and Dr Heithersay said this figure was expected to rise.
The executive director of Primary Industries and Resources SA, Paul Heithersay, said there was enough evidence of successful exploration in the state, coupled with a strong Chinese demand for resources, to reject concerns the mining boom would inevitably lead to a bust.
"We can't see a bust because the commodities we have are the ones that China needs -- copper, zinc, iron ore, zircon," he said. "Australia is one of the main producers of these and SA now has a big chunk of that sector. And uranium of course."
He compared the state's economy to a company that had announced the discovery of a new mineral resource
…Mining now contributes 24 per cent of SA's export income, and Dr Heithersay said this figure was expected to rise.
