Peter Gutwein

Premier of Tasmania



19 July 2020

Guy Barnett, Minister for Resources

Exploring rock-solid economic opportunities

As Tasmania moves toward recovery, the mining and mineral processing sector provides a rock-solid base for growing exports, bringing more money into our state and supporting local jobs.

Mining and minerals processing employs more than 5600 people and contributes more than $2.1 billion a year into the State economy through exports alone.

The sector also contributes significantly to the State's regional economies, through rates, service provision and the supply chain.

This contribution is set to grow with NQ Minerals recently finalising the sale and transfer of a mining lease for the Beaconsfield Mine site and infrastructure.

This project has the potential to contribute up to 260 jobs and $80 million annual expenditure when in full operation, with many of those jobs and economy boost in the Tamar Valley and surrounds in the coming months.

Beaconsfield was among the State’s most productive mines for many years and it is exciting to again see activity restarting at this iconic site.

The Tasmanian Government also wants to encourage new exploration opportunities and Round 4 of the Exploration Drilling Grant Initiative (EDGI) will help the minerals sector find and plan viable greenfield developments that will boost our regional communities, small businesses and families.

Round 4 will support 11 new projects that could collectively receive more than $427,000 in funding, taking our investment in the sector through EDGI alone to $1.2 million, with a further $800,000 still on the table for future funding rounds.

This round of funding will support more than 5300 metres of exploration drilling as well as helicopter access where required.

This is especially important for regions like the North West which has been hard hit by COVID-19.

Altogether, our Exploration Drilling Grant Initiative will help drive up to a 60 per cent increase in greenfield drilling to open up sites that may not have previously been economically attractive for exploration.

It provides grants of up to $50,000 for direct drilling costs and $20,000 for helicopter support, if required, for successful applicants who are exploring for new mineral targets.

Round 5 of the program is targeted to open for applications in the first half of 2021.

The EDGI Round 4 funding complements our Explorer Support Package of rental and licence relief, as well as the extension of EDGI Round 3 completion dates and the freeze on government fee increases, all aimed at helping our economy recover post-COVID.

*The list of successful applicants under Round 4 of our Mining Exploration Grant Initiative follows.

Further information on the Mining Exploration Grant Initiative is available on the MRT website.

Mining Exploration Grant Initiative – Round 4 – Successful projects

Company

Location / mineral category*

R.A. Gregory Prospecting

Brassey South / Category 1

Yunnan Tin Australia TDK Resources Pty Ltd

Renison North / Category 1

Edrill Pty Ltd

Denison 3 / Category 1

Edrill Pty Ltd

Loyetea / Category 1

Moina Gold Pty Ltd

Wart Hill / Category 1

Moina Gold Pty Ltd

Bell Mount / Category 1

Moina Gold Pty Ltd

Sayers / Category 1

Moina Gold Pty Ltd

Round Mount / Category 1

Corona Minerals Pty Ltd

Mount Jukes / Category 1

Corona Minerals Pty Ltd

South Darwin / Category 1

Monclar Pty Ltd

Serpentine Ridge / Category 1

*Category 1 minerals includes tin, gold, and base metals like copper, lead or zinc



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