Possible South Australia Sovereign Wealth Fund

Governor of SA - Kevin Scarce

Governor of SA – Kevin Scarce

South Australia is in the midst of a giant mining boom, especially in uranium, copper, and iron ore. Plans have been developed for a bipartisan committee in the parliament of South Australia to look at the establishment of a future fund on a state level. The future fund would derive its funds from mining royalties in South Australia. Uranium, copper and iron ore dominate the mineral mix in South Australia. As of July 1, 2011 there is a 5% royalty rate on other mineral products, generally concentrates or minimally processed products, including copper concentrate, uranium oxide concentrate and iron ore.

In fact, the multi-mineral body of Olympic Dam is the biggest uranium deposit in the world. It is the largest underground mine in Australia.

It is also purported to be the fourth largest copper deposit and fifth largest gold deposit found in the world.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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