Minister for Mines and Petroleum Hon Bill Johnston, has opened Round 21 of the Exploration Incentive Scheme in Fremantle. The scheme provides $5 million a year to encourage innovative drilling in greenfields and under-explored areas of the State.
Explorers can receive a refund of up to 50 per cent for innovative drilling projects, with caps of $150,000 (multi-hole project), $200,000 (single deep hole), and $30,000 for prospectors. There were 41 successful applicants for the last Round of the EIS and over $4.93 Million for drilling projects in 2020. Most of the projects were located in the Eastern Goldfields for nickel and gold projects.
“Last year, there was a significant shift in the focus of explorers in Round 20, with about a third of applicants searching for battery commodities such as nickel, cobalt, vanadium and lithium. The EIS helps keep Western Australia as the leading jurisdiction for mining and exploration, with many discoveries resulting in new mines and creating new jobs for Western Australians.” the Minister said.
Applications are open until March 27, 2020. Further details are located at www.dmirs.wa.gov.au