The Western Australian Government has continued its investment in mineral exploration by adding considerable funding to the Exploration Incentive Scheme (EIS).
Applications open today for Round 25 of the EIS’ highly popular co-funded drilling program and Series 3 of the Energy Analysis Program (EAP).
Explorers can receive a refund of up to 50 per cent for innovative drilling projects, with updated capped values of $180,000 for a multi-hole project (previously $150,000), $220,000 for one or two deep holes (previously $200,000) and $40,000 for prospectors (previously $30,000).
The co-funded EAP offers up to a 50 per cent refund for up to $50,000 per application.
The co-funded drilling program encourages innovative exploration in greenfields and under-explored areas of Western Australia, while the EAP promotes the re-analysis of existing data to better understand the State’s petroleum and geothermal systems.
Round 25 and Series 3 close at 4pm on Friday March 4, 2022. For more information, visit https://dmp.wa.gov.au/Geological-Survey/Exploration-Incentive-Scheme-1428.aspx
Mines and Petroleum Minister Bill Johnston said the State Government recognised that ongoing exploration success is essential for the sustainability of Western Australia’s resources sector.
“The increased funding caps will help resources companies further mitigate the costs and risks associated with exploration drilling,” he said.
“WA competes with several other jurisdictions to attract exploration investment so we will continue to support programs that provide the State with competitive advantages in this area.
“Most recently, Maximus Resources successfully completed drill holes demonstrating a strong potential for high-grade gold mineralisation and Karora Resources encountered significant nickel intersections – thanks to the EIS.”
The Western Australian Government also recently revealed a $185 million package aimed at promoting the state overseas as safe and full of opportunity, with a focus on addressing the current skills shortage in the mining sector.
The package, called Reconnect WA, complements WA’s Safe Transition Plan, and ensures businesses and industries have the competitive edge when WA welcomes back vaccinated travellers from overseas and jurisdictions with COVID-19.
Premier Mark McGowan said new campaigns would be tailored to specifically address the skills shortage by attracting workers, including skilled labour for key industries like the mining and resources sector.
“We will announce a date when our borders will transition very soon, which is why we are now delivering a comprehensive $185 million Reconnect WA package, to attract tourists, workers and students to what is one of the safest places in the world,” McGowan said.