An incentive from the Western Australian government has just been released, providing more than $5 million into 42 exploration drilling projects across WA.
Mines and Petroleum Minister Bill Johnston announced the successful applicants for Round 17 of the popular Exploration Incentive Scheme (EIS) co-funded drilling program. The announcement is off the back of the Government’s recent State Budget decision, which secured the continuation of the $10 million per year scheme and provided certainty to the mining industry.
The successful applicants for the multi-million Exploration Incentive Scheme target a range of commodities including copper, silver, lithium, base metals, manganese, graphite and heavy rare earth elements. Co-funding will only be available for exploration drilling. Locations for the exploration projects are equally diverse, selecting areas in the South-West, Gascoyne and Pilbara regions, as well as the West Kimberley and remote eastern margins of the State. Round 17 is predicted to provide $5.2 million to 42 projects to be drilled in the 2018-19 financial year.
The Western Australian Government has said in a statement that the ‘popular Exploration Incentive Scheme continues to deliver’.
Now in its 10th year, the Exploration Incentive Scheme has supported more than 430 ventures over the years, which have drilled more than 630,000 metres and contributed to more than 25 successful discoveries.
“The McGowan Government is a strong supporter of mining and resources exploration, and I’m pleased the program will continue to provide assistance to industry, especially as gold exploration expenditure in WA surged to a record $550.4 million last year,” commented Mines and Petroleum Minister Bill Johnston on the subject.
“The Exploration Incentive Scheme helps to increase the number of new mineral and energy discoveries, which will deliver jobs and strengthen the State’s economy for years to come,” the Minister said.
