SA Mines and Energy Journal : Dec09-Jan10
11 DECEMBER 2009/JANUARY 2010 SA MINES & ENERGY JOURNAL INDUSTRY DEVELOPMENTS The City of Adelaide is the centre of South Australia's commercial, cultural and government activities. An increasing number of firms in the resources sector are recognising the advantages the City offers in providing the best range of accommodation options, attracting and retaining staff as well as its proximity to key government decision makers. " " To find out more about the assistance Adelaide City Council can tailor to suit your business needs, please contact us on (08) 8203 7518. " " Adelaide CBD, as a base for an international business operation, offers many advantages such as superior business facilities, adequate car parking and access to all modes of transport. Through Council's outstanding Workforce Relocation and Organisation Expansion program, Terramin received invaluable assistance in identifying potential ideal office sites. We also received constructive, practical advice on how to relocate and in June 2007 we relocated to Westpac House and now enjoy the many benefits of the CBD setting. Adelaide City Council can help your business move into the City by assisting you identify accommodation options, streamlining Council processes and providing practical advice on business relocation or opening of a new office. Quotes by Kevin Moriarty, Executive Chairman of Terramin Australia Limited Olympic Dam accident The breakdown of one of the two haulage systems has slowed production at BHP Billiton's Olympic Dam mine. The fully automated Clark Shaft, which supplies ore from underground to the surface for processing, failed during operations on October 6. There were no injuries, and the company said it was working with inspectors from SafeWork SA and had also assembled its own investigation team to look at the cause of the problem. In the meantime, underground mining is continuing with ore being hoisted to the surface via the secondary Whenan Shaft. "We anticipate that ore hoisting will be at approximately 25 per cent of capacity until full production resumes in the third quarter of the 2010 financial year, " BHPB said in a statement to stock exchanges. Stuart will be debt-free after the transaction, and the sale leaves it to focus on its Cooper Basin project in South Australia and other projects. PTT Australasia will buy the tenement subject to conditions that include approval by Australian regulators. "This is the best outcome for the company and for shareholders of the company, " Stuart managing director Tino Guglielmo said about the Timor Sea sale. "We were always looking to sell down, " he said. "We had an obligation that we as a company didn't want to fund fully. " The tenement includes its Oliver field, which is thought to have at least 20 million barrels of oil, nine million barrels of LPG, 14 million barrels of condensate and 348 billion cubic feet of original gas in place. Mr Guglielmo said the Timor Sea sale would allow Stuart Petroleum to focus on its fields in South Australia's Cooper/ Eromanga Basin. It would also look at opportunities elsewhere.