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Mr PETER BLACK: My question without notice is directed to the Minister for Mineral Resources. What is the latest information on the promotion of New South Wales minerals and petroleum industries?
Mr KERRY HICKEY: I thank the honourable member for his question and for his continuing support of the New South Wales minerals industry. The Carr Labor Government is committed to promoting New South Wales as the preferred destination for minerals and petroleum exploration and investment. We are delivering on this commitment through a number of initiatives, including the annual investment conference of the Department of Mineral Resources, and its $30 million seven-year Exploration NSW Program, which is working. Exploration NSW stimulates overseas and domestic interest in the State's potential for minerals and petroleum discovery through maps, data and information packages.
The program uses leading-edge technology to deliver this information, much of which is available online to potential investors wherever they are physically located—Sydney, Perth or Vancouver. Canada remains the single largest source of investment capital for minerals exploration and development worldwide, and the international activities of North American companies continue to grow. To successfully market New South Wales on the world stage we must actively pursue these investors. It is vital that we lay the groundwork now. A key focus of our promotional activities is the annual Prospectors and Developers Association Convention, held in Toronto, Canada. This convention and trade show is the world's largest and most prestigious gathering of the minerals exploration and development industry.
Mr SPEAKER: Order! I call the honourable member for Lane Cove to order.
Mr KERRY HICKEY: It attracts key representatives of the minerals exploration industry including senior and junior mining companies, leading banks and investment houses, contractors, and government mineral resource agencies. Last year's convention attracted 8,100 visitors from more than 30 countries, and included 450 exhibitors. More than 30 government jurisdictions had exhibition booths, including all Canadian provinces and several American States. New South Wales is represented at this year's meeting, which is under way as we speak.
As part of our strategy to develop and maintain global awareness of New South Wales, we have joined the Commonwealth and other State governments at the convention since the mid 1990s. It is clear that the first step in international marketing is to get overseas companies to include Australia in their investment patch. The Team Australia approach to global marketing of Australian mineral exploration investment has proved cost effective. Our presence at the Prospectors and Developers Association Convention has undoubtedly contributed to the growing recognition of the State as an attractive and globally competitive site for exploration investment.
Mr SPEAKER: Order! I call the honourable member for Murrumbidgee to order for the second time.
Mr KERRY HICKEY: It is clear that the Leader of The Nationals considers that investment in the minerals industry is a joke. He quite clearly does not understand its rural and regional benefits.
Mr Andrew Stoner: Point of order: The Minister is misleading the House with that statement. The Nationals support the minerals industry in New South Wales.
Mr KERRY HICKEY: If that were clear the Leader of The Nationals would not be interjecting.
Mr SPEAKER: Order! The Minister will resume his reply.
Mr KERRY HICKEY: The evidence is clear. North American companies, such as Barrick Gold, Silver Standard and Wheaton River Minerals are taking up exploration opportunities. All those companies have developed genuine business interests in New South Wales following our promotions at this important exploration convention. Our focus this year is on promoting exploration opportunities for gold and base metals, including copper, in the Broken Hill region; highlighting new gold and base metal opportunities in the Cobar, Bourke and Central West regions; and exploration opportunities for commodities such as gold, antimony, tin, tungsten, base metals and gems such as diamonds and sapphires. In fact, I released a data package on diamond exploration opportunities in Armidale last week—as the Opposition spokesman on mineral resources would be quite aware.
The convention also will provide an opportunity to gain knowledge about market and commodity trends and forecasts. This will assist the Department of Mineral Resources in focusing its efforts on the commodities and regions that offer the highest potential for attracting national and international exploration investment. Senior staff of the department will also make direct promotional visits to selected exploration company offices in Canada, as part of an Australian delegation supported by Austrade. I look forward to updating the House on the outcomes of this important Canadian convention. It may well be the springboard for minerals exploration and development for decades to come. That is something that the honourable member for Wakehurst really does not understand.