The Tasmanian Liberal Government backs mining 100 per cent and we are continuing to harness our competitive strengths as part of our 2030 Strong Plan for Tasmania’s Future.
The search for critical minerals needed for the world’s decarbonisation plans will be a key focus of the latest round of mineral exploration grants.
Minister for Business, Industry and Resources, Eric Abetz, today announced applications had opened for round 10 of the Exploration Drilling Grant Initiative (EDGI).
“There is a global shift to find the minerals needed to build our economy and Tasmania can be a leader in this endeavour,” Minister Abetz said.
“This funding will allow mineral explorers to test greenfield locations which may lead to our next big mineral discovery.
“We know exploration leads to more resources projects and more jobs in the future for Tasmanians.”
Now in its seventh year, the grants program supports industry and investors to find new and potentially lucrative mining opportunities as well as the re-examination of old mines.
The first 8 rounds of EDGI have paid out $1.89 million in grants for 19.6 km of drilling, and estimated company expenditure of $5.2 million.
The program provides up to $70,000 for direct drilling costs and $20,000 for helicopter support, if required, for successful applicants.
Minister Abetz said the program had helped mineral exploration in Tasmania reach, and maintain, its highest levels on record.
“More than $36.6 million was spent on Tasmanian mineral exploration over the past 12 months, and the Exploration Drilling Grant Initiative will further enhance our state’s booming mineral resources industry,” Minister Abetz said.
“The EDGI funded discovery of high-grade tin and base metal mineralisation at North Scamander and Elementos’ recent announcement of a narrow but high-grade copper-gold mineralised zone at Luina show we’re starting to see strong results.
“Successes like these can lead to the development of new mines that are required to sustain and grow the Tasmanian economy while facilitating de-carbonisation.
“The mineral resources sector remains Tasmania’s top export earner, contributing more than $2.8 billion a year in exports while supporting more than 6,400 jobs,” Minister Abetz said.
“In 2023-24, $52.2 million in royalties were generated, meaning in the last five years royalty payments have totalled $283 million with an additional $10 million from rentals and fees.
“The Tasmanian Liberal Government will continue to support Tasmania’s world-class mineral resources sector for the royalties and jobs it generates.”
Applications close on Friday, August 30 2024 with successful applications expected to be announced in late September.
