Having two large companies expanding the rich copper resources in northern South Australia will ensure they are fully developed and jobs are maximised, say locals.
Shares in Oz Minerals, advanced a further 7¢ on Tuesday to $25.66, after surging by more than a third on Monday to just eclipse BHP’s offer, as investors doubled down on bets that BHP would be forced to pay more for the company which has promising copper deposits adjacent to the mining giant’s Olympic Dam project near Roxby Downs in South Australia.
But he had noticed that even in the town of Roxby Downs there was an increasing number of vacant shops and sites. He attributes that to an increasing use of Fly-In Fly-Out workers as mining companies across Australia grapple with a labour shortage. Penny Carter, owner of the Coober Pedy IGA supermarket, said expansion of all of the copper mines in the region would be a positive step because the pandemic had brought a substantial hit to the local economy in 2021 and 2022. Border closures stemmed the previously steady flow of tourists and had made life difficult.Ms Carter said copper mining brought economic spin-offs for local towns, but they were only maximised when families permanently resided for extended periods.
Brett Benbow, the mayor of Port Augusta, a large regional town 160 kilometres south of the Carrapateena mine, said OZ Minerals had been an important driver of the local economy, with substantial numbers of workers living in Port Augusta and travelling to the mine.“They have employed a lot of people with various skill bases. They are also a fantastic sponsoring organisation who help out a lot in local communities”.
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