The Western Australian Government has announced $11.2 million in funding through the latest round of the Exploration Incentive Scheme (EIS), designed to encourage exploration for the long-term sustainability of the resources sector.
The latest round of funding will support 77 projects across the state in a bid to drive new discoveries and long-term resource development.
WA Mines and Petroleum Minister David Michael unveiled the successful applicants for round 31 of the co-funded drilling program, series eight of the energy analysis program (EAP), and venture two of the co-funded geophysics program (CGP).
Both part of the EIS, the EAP aims to make funding accessible for analysing existing state resources to better understand petroleum and geothermal systems, while the CGP aims to provide new information on underexplored areas in WA to help find new mineral deposits.
“The (WA) Government’s Exploration Incentive Scheme is helping to shape a future where the benefits of our mineral wealth will last for generations,” Michael said.
“The EIS plays a pivotal role in overcoming the financial barriers that often prevent early-stage projects from reaching their full potential, and we are committed to ensuring these opportunities prosper.”
Funding includes $7.8 million to support 49 drilling projects, $3.2 million across 25 geophysics ventures and $200,000 for three EAP projects.
Around 50 per cent of drilling recipients are targeting critical minerals, while 75 per cent of CGP ventures are looking to uncover new deposits.
The Association of Mining and Exploration Companies (AMEC) chief executive officer Warren Pearce highlighted the program’s economic and community impact.
“The EIS is a highly successful program with a proven track record of growing mineral exploration in Western Australia,” Pearce said.
“The more discoveries explorers make, the more opportunities are derived from new mining projects that lead to jobs and community benefit.”
Pearce said there is an estimated $31 million returned to the WA economy for every $1 million invested through the EIS.
“It helps explorers do what they do best and find the minerals we need,” he said. “Explorers are the lifeblood of the mining industry. Without them we can’t find the mines of the future and the technology for future generations.”
The program has helped numerous operations, including high-grade gold at Ora Banda Mining’s Little Gem, the Kingfisher Mining’s MW2 rare earths prospect, and high-grade niobium at Dreadnought Resources’ Stinger prospect.
Applications for round 32 of EIS will open in August 2025.