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European Australian Business : 2008
54 overseas higher-education student growth – 8.1 per cent compared to a national rise of 3.9 per cent. In total, 23,000 overseas students chose to study in South Australia in all levels of education in 2007, so that education is now South Australia’s fourth-largest export. Adelaide has three well-established public universities – the University of Adelaide, University of South Australia and Flinders University – ranked in the Top 200 Universities in The Times Higher Education Supplement or Shanghai Jiao Tong (2005). Leading US private university Carn- egie Mellon established two Adelaide campuses in 2006, offering both Australian and US degrees in areas such as information technology, government management, new media and entertainment. Carnegie Mellon’s Adelaide base was the first by a US university in Australia; since then, South Australia’s burgeoning defence industry has led the UK-based Cran- field University to offer post-graduate programs in defence-related manage- ment and technology in Adelaide. South Australia has world-renowned training centres for industry sectors including aviation and food, wine and hospitality. Mining and energy The predicted continuity of the current resources boom is creating major op- portunities for investors, suppliers and skilled workers in projects that have resulted from successful exploration activity. Mineral exploration expendi- ture in South Australia increased by 73 per cent in the year to September 2007 to reach nearly A$300 million – almost tripling the A$100 million target for 2007 set by the South Australian Government in its mission statement for growth, South Australia’s Strategic Plan. South Australia’s share of national exploration spending is now at more than 15 per cent. The exploration and related success has contributed to South Australia moving from 18th to 4th place in world mining potential as rated by Canada’s Fraser Institute. The biggest project on the horizon is the proposed expansion of BHP Billiton’s Olympic Dam mine, which looms as the world’s largest multiple mineral resource deposit. BHP Bil- liton has a conceptual plan to increase uranium oxide from 4,000 tonnes per year to 19,000 tonnes, copper from 180,000 tonnes to 730,000 tonnes and gold from 100,000 ounces to 800,000 ounces. The company’s proposed production increase would require the biggest expansion of existing facilities undertaken in the global resources industry. Other projects with individual and collective benefits for the South Aus- tralian economy, and which provide significant opportunities for suppli- ers, include one of the world’s most attractive new copper-gold mines, Oxiana’s Prominent Hill development, which is predicted to produce around 100,000 tonnes of copper and 115,000 oz of gold in concentrate form each year. Uranium, copper, zinc, zircon, gold, silver, nickel and heavy mineral sands are among the minerals being explored and mined in other projects across the State. In addition to its mineral resources, South Australia has significant re- serves of oil and gas, and the capacity for development of major geothermal and other renewable energy sources. South Australia’s oil and petroleum in- dustries are thriving, with exploration for oil in the State growing significantly. The Cooper Basin in the State’s north is Australia’s largest onshore oil and gas producer, and is currently being explored and developed with activity at record levels. ICT and creative industries South Australia’s defence and aerospace industries, and the ready availability of next-generation broad- band, have provided a platform for innovation and expansion in ICT and electronics. Adelaide has been rated as the equal second most cost-com- petitive city in the world for software and multimedia development, and is the location for development centres for multinationals including BAE Systems and Fujitsu. ICT exports are currently in the vicinity of $1 billion a year and are expected to double over the next seven to eight years. The 80km ultra high-speed optical fibre South Australian Broadband Research and Education Network (SABRENet) was completed in 2007, linking all public universities, hospitals, most A resource boom for South Australia