New Exploration Incentive Scheme enters 10th year

Mines and Petroleum Minister Bill Johnston has announced the successful applicants for Round 17 of the popular Exploration Incentive Scheme (EIS) co-funded drilling program. The announcement follows the Government’s recent State Budget decision, which secured the continuation of the $10 million per year scheme and provided certainty to industry.

Round 17 will provide $5.2 million to 42 projects to be drilled in the 2018-19 financial year. The successful applicants are targeting a range of commodities including copper, silver, lithium, base metals, manganese, graphite and heavy rare earth elements. The project locations are equally diverse with sites in the South-West, Gascoyne and Pilbara regions; the west Kimberley and remote eastern margins of the State.

Now in its 10th year, the co-funded drilling program has supported more than 430 ventures, which have drilled more than 630,000 metres and contributed to more than 25 discoveries. Co-funded drilling success stories include the Nova nickel-copper-cobalt mine east of Norseman and Rox Resources’ Camelwood nickel deposit.

Mines and Petroleum Minister Bill Johnston commented: “The WA Government is a strong supporter of mining and resources exploration, and I’m pleased the program will continue to provide assistance to the industry, especially as gold exploration expenditure in WA surged to a record $550.4 million last year. The EIS 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 next round will open in August-September for co-funded projects to be drilled in 2019.

For more information on the list of successful applicants, visit http://www.dmp.wa.gov.au