The Tasmanian Liberal Government has a long term vision for the mining industry to help grow the sector, support more jobs and assist the economy to rebound from the coronavirus pandemic.
A key initiative to help the mining sector emerge from the current economic downturn is the Exploration Drilling Grant Initiative which will help to create a pipeline of potential mining revenue and royalties into the future.
Round 4 of the initiative is now open to assist current, new and emerging mineral explorers expand operations in Tasmania, and build on an industry worth more than $2.8 billion a year.
Under Round 4, grants of up to $50,000 for direct drilling costs and $20,000 for helicopter support, if required, are now available to pinpoint new and untapped mineral targets.
Applicants have until May 29, 2020 to prepare and submit their detailed proposals, including geological plans and supporting scientific evidence, to Mineral Resources Tasmania.
This is an important sector of our economy, employing thousands of Tasmanians and providing more than $30 million in royalty and fee payments each year to help fund the vital services Tasmanians need.
Since it commenced, the EDGI program has contributed toward a 70 per cent increase in green-fields exploration from $1.5 million in 2017/18 to $2.6 million in 2018/19.
Together with our $1 million Mining Sector Innovation Initiative and our Mineral Exploration Investment Attraction Plan, the Exploration Drilling Grant Initiative will attract the new investment required to sustain and grow Tasmania’s mining industry in the long-term.
Successful applications are expected to be announced by mid-2020.
The results from EDGI Round 1 projects are also now available from the MRT website.