Message for 30^th anniversary of the

opening of McCoy Earth Sciences Building

Melbourne University

23 May 2007

from Arvi Parbo

May I congratulate all concerned on the 30^th anniversary of the opening of the McCoy Earth Sciences Building. I was privileged to be present at the opening but regret not being able to participate today.

Production and export of virtually all minerals in Australia is presently at an all time high, and increasing. We are one of the leading suppliers of mineral products to the world. This is once again underwriting our economy.

Today’s production comes largely from the massive orebodies discovered in the 1960s and 1970s. These finds were very large and have been, and are still being, extended by further exploration. There have been also additional greenfields discoveries. Thanks to past successes availability of ore has not been a restriction on the industry so far, but further down the road maintaining this prominent position depends on continuing to discover additional ore at a high rate to at least replace the ore mined.

It takes a long time, tens of years, to bring major new discoveries into full production. We therefore need to discover well ahead of time the orebodies to take over from today’s main producers in due course.

The key to this is persistent and high quality exploration effort employing the best scientific knowledge, technology, and skills. The McCoy Earth Sciences Building has had important role in the training of skilled exploration professionals and leaders over the last 30 years.

Today the need for the best technology and skills in minerals exploration is, if anything, greater than in the past. Future discoveries in Australia will be increasingly hidden, at greater depths, and more difficult to locate. The global nature of the industry means that prospects in Australia will compete with those in other parts of the world. Superior knowledge and skills are necessary to overcome disadvantages in other respects.

Future graduates from the University of Melbourne School of Earth Sciences will continue to have a vital role in ensuring that the Australian minerals industry continues as a world leader. May I wish all concerned every success in this endeavour.