A $A10 million deal has been agreed between Oz Minerals, a copper and gold mining company and the South Australian government, to move the company`s head office in exchange for research investment.

Under the terms of the deal, Oz Minerals will move its central office from Melbourne to Adelaide and receive a $10 million sum to be spent on research partnerships between the company and local universities.

‘Fantastic opportunities’ for SA university graduates

SA Premier Jay Weatherill said the relocation and research deal “creates fantastic opportunities for graduates coming out of our universities to aspire to the high-end jobs that exist in head offices”.

SA government invests in innovation to grow business and create new jobs

Adding that it demonstrates the government`s desire “to invest in innovation to grow business and create new jobs”�.

“The State Government is investing $10 million to partner with Oz Minerals and local universities to develop new technologies aimed at unlocking our unique but deeply covered mineral deposits,”� Mr Weatherill continued.

In addition, the company will commit to an $18 million investment to the region, including the building of a new demonstration plant in the state.

Oz Minerals has two major copper assets in South Australia: Prominent Hill mine in the north-west of the state and the Carrapateena project located 130 kilometres from Port Augusta.

South Australia ‘very copper-rich’

Jason Kuchel from the South Australian Chamber of Mines and Energy said, “what we`re recognising now is that South Australia is very copper-rich and it`s not just companies like Oz Minerals, but others are also recognising the substantial opportunities in South Australia.”�

Opposition Leader Steven Marshall welcomed the announcement, but added that all deals need to represent value for money and asked “we need to know: what are we going to get in return?”�

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