Sinosteel South Australian Company Received the First Special Innovation Development Fund from the Government of South Australia

Recently, Sinosteel South Australian Company presided over the declaration of new ideas and new technologies project for geochemical exploration in Curnamona area in 2021, and received the special ADI fund from the Government of South Australia.

ADI (Accelerated Discovery Initiative) is an initiative of the Economic and Business Development Fund, which is designated to support innovation in ideas, technologies and technical cooperation in the field of resource exploration to promote and accelerate the mineral exploration activities in South Australia. This initiative is an important part of economic development journey in South Australia.

At present, Sinosteel South Australian Company has five prospecting rights, with an existing area of more than 2,700 square kilometers. Over the years, Sinosteel South African Company has taken advantage of its expertise to actively promote the exploration of mineral rights, and conducted systematic research on the evaluation of resource exploration potential and the preferential selection of exploration target areas. In 2012, with the help of 3S technology integration and the application of geological big data, the prospecting target of magnetite in Kalabity mining right area was quickly targeted and a new high-grade magnetite ore site was discovered by using location tracking technology, benefiting from domestic and overseas solid mineral risk exploration fund. The block is actively promoting the application of mining rights and will soon realize economic mining, and form a new iron ore production capacity and profit growth point. The achievements fully demonstrate the rapidity of new technology application in screening the target area, the efficiency of field investigation and the effectiveness in screening the mineral site.

In 2021, Sinosteel South Australian Company will utilize the support from ADI fund to actively promote cooperation with the University of Adelaide in an attempt to challenge traditional resource exploration ideas and explore new exploration technology methods with low environmental disturbance and distinctive ore signatures. So the new breakthroughs in resource exploration can be realized through innovative ideas and technologies.

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