South Australian resources exports grew by 14.3 per cent to more than $5 billion in 2023.
According to new Australian Bureau of Statistics figures, the state recorded $17.9 billion in exports for the year.
While resources contributed $5 billion, the figures do not include the further $2 billion SA exported in confidential energy and mineral goods like copper ores and uranium.
While copper was a significant export driver, SA’s iron ore exports reached almost $1.2 billion for 2023.
More than $3 billion of the $7 billion total came from iron and steel, refined copper and lead.
SA Minister of Energy and Mining Tom Koutsantonis highlighted the potential of SA as home to 16.8 billion tonnes of magnetite iron resource in the Northern Gawler, Southern Gawler and Braemar provinces.
“It means more jobs in South Australia. It means more complexity in our economy,” he said.
“Shifting towards exporting more value-added products, like refined copper, is the right direction for South Australia’s economy.”
Koutsantonis said the SA mining sector’s 2023 exploration expenditure was the highest since 2012 at $426 million.
“Forecasts predicting a surge in global copper demand surpassing current supply capabilities presents a very big opportunity for South Australia,” he said.
“We host 70 per cent of Australia’s copper resource. We’re in prime position to open up opportunities for growing our economy through our resource exports and assist other countries as they transition to low carbon economies.
“We are seeing the resources sector thrive as we focus on the global energy transition.”
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