Oz Minerals and the South Australian Government have signed an A$10m deal where the mining company will relocate its head office from Melbourne to Adelaide, in a bid to reduce costs and move closer to its copper-gold mining operations.
The government is also investing in a new research partnership with Oz Minerals and local universities that aim to improve the quality of copper concentrates produced in the state.
Premier Jay Weatherill said: "The heart of OZ Minerals' operations have always been in South Australia and it is great news the company has now chosen to call Adelaide its home.
"The move makes sense as Oz Minerals' two major copper assets, Prominent Hill and Carrapateena, are here in South Australia.
As part of its commitment to the partnership, Oz Minerals is also investing $18m in the construction of a demonstration plant in South Australia.
New technologies will be developed to unlock the deeply covered mineral deposits, which will be beneficial to mining companies in Australia, and worldwide.
Mineral Resources and Energy Minister Tom Koutsantonis said the relocation is an agreement between the state government and Oz Minerals to jointly facilitate the development of South Australian copper projects.
The mining company has also agreed to engage with local universities to assist with its research.
Image: South Australia Premier Jay Weatherill. Photo: courtesy of Bilby.