Antinuclear

Australian news, and some related international items

South Australia can now develop its diversified economy, with the Olympic mirage gone

Mining in SA is still a minnow compared with the state’s traditional economic base. Manufacturing accounts for about 11 per cent of economic activity, agriculture 6 per cent and mining 4 per cent, boosted by high commodity prices…. despite government rhetoric, SA is far from a mining state.

 those things that are the reason why South Australia existed: our agriculture, fishing, aquaculture, food processing,

Prospects take a dive with shelving of Olympic Dam expansion BY: SARAH MARTIN, SA POLITICAL REPORTER   The Australian August 25, 2012   BHP Billiton’s Olympic Dam mine expansion would have created a hole in the ground as deep as South Australia’s highest peak.

An open pit 4km long, 5km wide and 1km deep was to be dug across five years to create the world’s largest copper and uranium mine at Roxby Downs in the state’s outback, 560km north of Adelaide.

But it was not to be.

{ at left, BHP’s CEO Marius Kloppers and former S.A. Premier Mike Rann, in the heady days of their ill-judged fervour for Olympic Dam) BHP’s decision this week to shelve the $30 billion project has left SA without the mining boom it was promised. For almost a decade, former premier Mike Rann and treasurer Kevin Foley spruiked the transformative power of the mine project,
proclaiming it an economic panacea for the state……

The mine’s promise continued to be sold by the Weatherill administration after Rann’s departure, with budget figures predicated on the mine going ahead, even while a global commodity downturn made its prospects doubtful…..

Adelaide-based chief economist of Prescott Securities Darryl Gobbett
says the government had promised a mining boom that would not
eventuate.

“I think they have hyped up what was going to happen before the
event,” he says. ……

Mining in SA is still a minnow compared with the state’s traditional economic base. Manufacturing accounts for about 11 per cent of economic activity, agriculture 6 per cent and mining 4 per cent, boosted by high commodity prices.

John Spoehr, executive director of the Australian Workplace Innovation
and Social Research Centre at the University of Adelaide, says that
despite government rhetoric, SA is far from a mining state.

He says mining employment represents just more than 1 per cent of
total employment in the state, with the manufacturing and service
sectors still dominating.

Spoehr says the state needs to continue to diversify its economy
without the Olympic Dam expansion boost, focusing on the service
sector and clean-tech industries….. Michael O’Neil, from the South
Australian Centre for Economic Studies, says the state needs to focus
on its traditional strengths, such as value-added agricultural
exports. “We really have to work much more strongly with those things
that are the reason why South Australia existed: our agriculture,
fishing, aquaculture, food processing,” O’Neil says.

“South Australia has not had a mining boom and won’t have a mining
boom, so now we have to focus on where our competitive and comparative
advantage is.” http://www.theaustralian.com.au/national-affairs/opinion/prospects-take-a-dive-with-shelving-of-olympic-dam-expansion/story-e6frgd0x-1226457673698

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August 27, 2012 - Posted by | business, South Australia, uranium

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