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Property News

Mining contract to bring capital gains to South Australia

February 07, 2012

South Australia is set to benefit from a new billion dollar contract between Thiess and OZ Minerals.

The six-year agreement is expected to create 170 jobs in the next few months and increase to 550 at peak with the extension of mining operations at OZ Minerals' Prominent Hill copper and gold mine.

Those looking to purchase or rent residential property in South Australia may be happy to know that Thiess has a history of hiring locally.

Executive general manager of Thiess Australian Mining Michael Wright said: "Of our people currently on site, some 90 per cent are based in South Australia, with 15 per cent from regional aboriginal communities." 

A report from Deloitte released last week noted that 46 per cent of all investment committed to or under construction in Australia stems from the mining industry.

With many of the mining projects in the pipeline for Western Australia and the Northern Territory, it is nice to see some of the capital flows going towards South Australia as well.

OZ Minerals’ CEO and managing director Terry Burgess looks forward to the development.

He said: "We are very pleased to have come to an agreement with Thiess where both parties are completely aligned for the next six years on what needs to be delivered. Thiess has similar values to us, a real commitment to their people and safety, and a strong production focus to ensure our mutual outcomes are achieved."
The most recent numbers from the Australian Bureau of Statistics indicate the mining industry employs roughly 10,000 people in the state.

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