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In a nod to the state’s low mining tax and cost environment, Hillgrove Resources has entered into a partnership with the state government to advance the aims of South Australia’s long-term copper strategy.
In line with the agreement Hillgrove will become the second of South Australia’s three copper exporters to relocate its corporate base from the east coast to Adelaide, following the lead of OZ Minerals, which moved in July 2015.
South Australian Mineral Resources and Energy Minister Tom Koutsantonis said the state aimed to triple its copper production by 2030 to enable Australia to rise to third in the global rankings of copper-producing nations.
“To achieve our ambitions for South Australia and the nation, the state government needs to work more closely with resource companies and the partnership with Hillgrove is the latest example of that necessary collaboration,” he said.
“The head office relocation sends a powerful message to other business leaders and investors and aligns with our economic priority goal of attracting three corporate headquarters to Adelaide.”
Hillgrove Resources chief executive Steven McClare said as the company’s major assets were in the Adelaide Hills, it made sense to partner with the state government on a strategy that supports copper from exploration to export.
“South Australia also offers the added benefit of being a low mining-tax and low-cost jurisdiction and with a government that is extremely proactive in wanting to partner with resource companies to develop the state’s assets,” he said.
“Relocating our office and staff from Sydney will allow Hillgrove to utilise high quality services at very competitive rates from local firms such as information technology, auditors, accounting and legal services.”
The partnership includes an $850,000 grant toward construction of a pipeline to deliver untreated water to the company’s Kanmantoo copper mine, which will supplement the existing supply of treated effluent from the nearby district of Mount Barker.
