Exploration Incentive Scheme to offer $5.25 million in co-funding to WA projects
|Date:||Monday, 02 August 2021|
- Exploration Incentive Scheme to offer $5.25 million in co-funding to WA projects
- A third of previous successful applicants are searching for battery minerals
The State Government today announced applications for Round 24 of the Exploration Incentive Scheme (EIS) co-funded drilling program and Series 2 of the co-funded Energy Analysis Project (EAP) program have opened.
The competitive grants program offers refunds up to 50 per cent for innovative exploration drilling and EAP projects, capped at specific amounts.
At the completion of Round 21 drilling across the 2020-21 financial year, 69 per cent of projects with EIS funding completed drilling, exceeding the historical average of 59 per cent.
The EAP program encourages exploration of petroleum and geothermal resources using existing State resources: including drill core, sidewall core and cuttings, and existing data.
For Round 23, $6.3 million was offered in co-funding drilling grants, this includes an additional $1.3 million from the McGowan Government’s WA Recovery Plan, and $261,000 for EAP projects throughout Western Australia.
Applications for Round 24 close at 4pm Friday 27 August 2021. For more information, visit: http://dmp.wa.gov.au/Geological-Survey/EIS-Government-co-funded-1433.aspx
Comments attributed to Mines and Petroleum Minister Bill Johnston:
“Despite COVID-19, the mining industry has demonstrated its resilience in maintaining its role as the major contributor to Western Australia’s economy.
“Exploring for these minerals and commodities ensures Western Australia stays at the forefront of mineral exploration.
“Western Australia is a major employer of people in the mining industry, with more than 140,000 workers. It’s integral the McGowan Government continues to support exploration.”