Dr Anthony Lynham

STATE MEMBER FOR STAFFORD

Resources grants driving exploration in north-west Queensland

Collaborative Exploration Initiative – drilling

17 December, 2018 –

As it gets harder and harder for explorers to find ‘the next big thing’, Queensland is investing in exploration.

This is a downpayment on future jobs and business opportunities from Queensland’s $63 billion-dollar resources sector.

15 new exploration projects, powered by 12 companies, will be bolstered by the latest round of collaborative exploration grants.

Government and industry jointly fund the Collaborative Exploration Initiative, which backs private investment in under-explored parts of north-west Queensland by co-funding particularly innovative projects.

Over the past 11 years, this program and its forebears have proven success in identifying new mineral deposits.

The proponents of the latest funded projects will receive up to half of the direct activity costs of their projects to a maximum of $200,000.

They will get an additional incentive of 75 per cent, or up to $300,000, if they can hit the ground running and finalise their projects by August 2019.

Aeon Metals is a success story from an earlier round last year.

Their project helped to increase the extent of Australia’s largest cobalt resource – a critical mineral for battery technology which will power the next wave of renewable energy.

For more information about the grants visit https://www.business.qld.gov.au/industries/mining-energy-water/resources/geoscience-information/exploration-incentives/exploration-grants