Pacing up SA’s multibillion-dollar mineral export boom
More than 40 hopefuls are vying for millions of government dollars to unlock more mining assets as the state digs into a $7 billion export boom.
Energy and Mining Minister Tom Koutsantonis says the first round of the state government’s minerals co-exploration program attracted significant interest as mining investment surges in the state amidst record export values.
More than 43 applications have been received for Plan for Accelerating Exploration (PACE) Minerals program, which dedicates $12.4 million over the next four years for new exploration programs.
The PACE Minerals program delivers grants for exploration programs that can unlock new mineral discoveries, generate new geoscientific and groundwater datasets to open new projects and strengthen the state’s investment pipeline.
Koustantonis said that the programme would “help turn South Australia’s mineral potential into future investment opportunities.”
“The response to the first round of PACE Minerals demonstrates clearly that South Australia is firmly on the radar of explorers looking for their next mineral discovery,” he said.
“PACE Minerals is about turning world-class geology into the next generation of discoveries — discoveries that can support jobs, regional development and long-term economic growth for our state.
“South Australia has the geology that future industries need, with significant copper, uranium, iron ore, precious metals and critical minerals.”
Koutsantonis said there was a $7 billion minerals export boom in SA, with total resource and energy exports across the country for this financial year forecasted to reach $422 billion.
And the state’s copper exports hit a record value of $5.2 billion in the year to June, with a further $211 million spent on mineral exploration.
Mining giant BHP announced a $13.8 billion profit in the 2026 financial year, with strong copper prices and record production of the resource in South Australia driving results, a new report shows.
The government would now undertake a “detailed” assessment process before announcing successful applications in the coming weeks.
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As part of the programme, the government would co-fund exploration activities such as drilling, research collaboration, groundwater sampling and testing and data-driven geoscience.
Koutsantonis said the government believed that removing early risk barriers to mineral exploration would help grow the resources sector and encourage further investment by capitalising on the state’s abundant mineral reserves.
SA holds 68 per cent of Australia’s economic demonstrated copper resources, 66 per cent of confirmed graphite resources and 27 per cent of the country’s gold as gold prices stay above $6000 per ounce.
The 2025 Fraser Institute Annual Survey of Mining Companies ranked South Australia as first out of 41 jurisdictions for mineral potential and fourth out of 68 jurisdictions for investment attractiveness.
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