Drilling exploration program stimulates search for critical minerals

The latest round of the Tasmanian Liberal Government’s successful drilling exploration grants program will help our mining industry search for critical minerals and other deposits, delivering economic benefits and jobs for the state.

Minister for Business, Industry and Resources, Eric Abetz, said the Exploration Drilling Grant Initiative (EDGI) continues to be an important economic stimulus for the state, with five projects successful in the latest round.

“These newly-approved projects will see nearly four kilometres of exploration drilling undertaken and more than $1 million spent by industry,” Minister Abetz said.

“This program is highly successful, with industry investing $2.90 for every $1 invested by the Tasmanian Government, providing a significant return on the program’s overall investment.

"The latest round of successful projects take the total approved since 2018 to 114 from 33 different companies, a sign of the strong interest in the mineral potential of the state.”

Commencing in 2018, EDGI encourages and supports industry and investors to identify new and potentially lucrative greenfield mining opportunities as well as the re-examination of existing mine or mining lease sites, including for critical minerals and those minerals needed for de-carbonisation.

The program provides up to $50,000 for direct drilling costs and $20,000 for helicopter support, if required, for successful applicants to undertake mineral exploration.

Mr Abetz said Tasmania’s education sector will also benefit from the program, with all drill core and samples stored at the Mineral Resources Tasmania Core Library in Mornington and available for public viewing and sampling.

“The University of Tasmania is a significant user for both undergraduate and post-graduate research teaching, including techniques of describing core and the identification of rock types and structures in the cores,” he said.

Mr Abetz said that mineral exploration was integral to jobs, economic activity and to building a renewable energy future.

“What we have seen in recent years is a shift to find the minerals needed to build future economies,” Mr Abetz said.

"In this round alone, three of five approved projects are looking for critical and battery minerals such as the rare earth elements and tin. 

“These metals are essential as the globe transitions to a future with greater use of renewable energy, and industry knows this is where there will be significant demand and value well into the future.

Mr Abetz also announced that consultation with the resources sector on the Sand Resources in Southern Tasmania Project has commenced, as part of the Tasmanian Liberal Government’s Next 100 Days plan.

The Tasmanian Liberal Government’s 2030 Strong Plan for Tasmania’s Future backs in the mining and minerals sector and our continued support for the EDGI program is guaranteed with funding secured through our 2024-25 Budget.

*The list of successful applicants under Round 10 of the Mining Exploration Grant Initiative follows.

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

All successful applicants are targeting Category 1 (metallic) minerals