The Rockliff Liberal Government is driving investment and jobs growth in the region with a new strategy that will leverage exploration opportunities for critical minerals in the State.
Minister for Resources, Felix Ellis, today announced the Government’s plans to produce a Tasmanian Critical Minerals Strategy that will best position the State to take advantage of new opportunities.
“Today, round eight of the Exploration Drilling Grant Initiative (EDGI) scheme opens and we have amended the funding guidelines to specifically encourage exploration for critical minerals such as tungsten, cobalt and rare earths, acknowledging the role of critical minerals for defence manufacturing and the world’s transition to net-zero emissions,” he said.
“The strategy will help identify on-island resources, drive investment and grow jobs, particularly in our regions, while preserving our environment and ensuring a clean energy future.
“The new round of funding follows the success of the first seven rounds, and we are increasing the amount available for drilling costs by 40 per cent from $50,000 to $70,000. The additional $20,000 helicopter support also remains available if needed to undertake explorations in Tasmania’s more rugged and remote areas.”
Minister Ellis said miners are confident and looking to invest in Tasmania with the strong support of a majority Liberal Government that believes in the industry.
“The ABS’s latest Labour Force Survey data shows that direct employment in the mining sector alone averaged 3400 in the 12 months to November 2022. That’s 700 more jobs than the long-term average for Tasmania,” he said.
“It is an industry that produces almost 65 per cent of our goods exports, supports 5900 jobs and plays a crucial role in the transition to renewable energy.
“It’s a huge change from the dark days of the Labor-Green Government when two out of every three businesses in the State thought the Government was working against them.”
Minister Ellis said continued greenfield exploration was vital to ensure the project development pipeline necessary for the long-term future of the industry.
“Mineral exploration in Tasmania is now at its highest level in almost a decade thanks to our Exploration Drilling Grant Initiative, with expenditure reaching $36 million in the year to September 2022, a 111 per cent increase on the preceding 12-month period, and more than triple the Covid-induced low of 2020,” he said.