The Australian Government has announced a new resource corridor that includes parts of O’Connor will be a focus of its $125 million expansion of the Exploring for the Future program.
Running for more than 2000 kilometres, the corridor starting just south of Darwin and straddling the borders of the Northern Territory, Western Australia and South Australia, the corridor has been identified by scientific experts at Geoscience Australia as one of two in Australia with high potential for new energy, minerals and groundwater resource discoveries.
The second corridor, which starts in Far North Queensland and runs down the borders of New South Wales, South Australia and Victoria, will also be included in the expansion of the program.
Federal Member for O’Connor Rick Wilson said expanding Exploring for the Future to include the two corridors will support our economic recovery, particularly in regional Australia, following the COVID-19 pandemic.
“We know that a major way to speed up new mining and agricultural activities that drive jobs and economic growth is by providing the geological data and information that de-risks exploration and investment.”
“Geoscience Australia will be engaging local contractors and services to support their data collection activities. While they are working in our region, they will also be purchasing supplies at local businesses.
“These jobs will be sustained by the energy and mineral companies attracted to the region to undertake further exploration work. The end goal is to deliver long-term jobs supported by the ongoing development of new resource discoveries.
“Communities in O’Connor will also benefit from the improved understanding of groundwater resources, which will support the management of our precious water supplies and create new opportunities for our agriculture industry,” Mr Wilson said.
Exploring for the Future
Led by Geoscience Australia, the Exploring for the Future program uses cutting-edge techniques to collect new data and information about potential mineral, energy and groundwater resource systems on the surface and deep underground.
A $100 million investment in Exploring for the Future by the Australian Government in 2016 has delivered a detailed picture of potential resources in northern Australia. In June 2020, the Australian Government announced it will invest an additional $125 million over four years to expand the program nationwide.
A return on investment analysis of three Exploring for the Future projects by ACIL Allen, which included a number of the program’s activities, estimated the total potential benefits could be worth up to $2.5 billion. The analysis by ACIL Allen is available in full from acilallen.com.au/projects/program-evaluation/exploring-for-the-future-program-return-on-investment-analysis
Information about Exploring for the Future can be found at ga.gov.au/eftf