Picking up the pace with big investment in SA’s mining future
South Australia is positioned to be home to one of the world’s greatest copper provinces and the Malinauskas Government is helping ensure the state is best- positioned to seize on our mining opportunity with a new $12 million co-investment initiative launching today.
South Australia’s sector-leading Plan for Accelerating Exploration (PACE) has been reborn as PACE Minerals, with $12 million budgeted over four years to match private investment in exploration – fast-tracking the discoveries today that will become the mines of tomorrow.
The original PACE program is widely recognised as a cornerstone of South Australia’s modern exploration success.
It was instrumental in discovering the Carrapateena copper-gold deposit in the Gawler Craton in 2005 – now the state’s second-largest copper mine produced 226,100 tonnes of copper concentrate and supporting around 1,800 jobs.
The renewed program will build on this legacy, working alongside the Geological Survey of South Australia to unlock new mineral discoveries and support the state’s next chapter of exploration. PACE Minerals will co-fund activities including drilling, geophysics, research partnerships, data science and groundwater testing.
Grants will be allocated annually through a competitive proposals process.
PACE Minerals will support exploration in underexplored and prospective regions, helping industry overcome challenges such as remoteness and the depth of mineral deposits. The program strengthens South Australia’s status as one of the world’s leading destinations for mineral exploration, globally recognised by this year’s survey by the Fraser Institute.
Complementary initiatives meanwhile, including large-scale geoscience programs such as the Eyre Peninsula aeromagnetic survey, will continue to expand understanding of South Australia’s resource potential and support future discoveries.
Applications for the 2026-27 PACE Minerals funding round are open now, with further information available from www.energymining.sa.gov.au/pace.
Quotes
Attributable to Tom Koutsantonis
Today’s discoveries become tomorrow’s mines, and that’s why the South Australian government is backing exploration through the return of PACE Minerals.
This will help our state seize the opportunity before it - more copper, more critical minerals, more uranium and more innovation.
PACE previously helped put South Australia on the global map for exploration, enhancing the state’s reputation for prospectivity, geoscientific data and innovation across the resources sector.
This model has a track record of accelerating discoveries that become the mines of the future - consistently delivering strong economic returns and supporting junior explorers and new market entrants.
It also set the stage for more complex and diverse resource and energy opportunities that are emerging across the state.
Mining contributes 35 per cent of South Australia’s exports, and continued exploration is critical to maintaining a strong pipeline of new mineral discoveries.
PACE will help bring known prospects forward and fast-track exploration for new ones.
This $12 million investment recognises both the importance and the challenges of mineral exploration. It’s a challenging and risky business, but we also know that when it pays off, it pays off for all South Australians in royalties, economic activity and jobs.
The program builds on our enviable global reputation as the highest-ranked Australian jurisdiction in the Fraser Institute’s prestigious global survey of mining investment attractiveness, which also named South Australia number one worldwide for mineral potential.