Applications for Round 24 of the Exploration Incentive Scheme’s (EIS) Co-funded Drilling Program and Series 2 of the co-funded Energy Analysis Program (EAP) are now being accepted.
The competitive grants program offers up to a 50 per cent refund for innovative exploration drilling and energy analysis projects in Western Australia, capped at specific amounts.
According to the State Government, at the completion of Round 21 drilling across the 2020-21 financial year, 69 per cent of projects with EIS funding completed drilling, exceeding the historical average of 59 per cent.
The EAP program encourages exploration of petroleum and geothermal resources using existing resources including drill core, sidewall core and cuttings and existing data.
For Round 23, $6.3 million was offered in co-funding drilling grants, this included an additional $1.3 million from the WA Government’s WA Recovery Plan and $261,000 for EAP projects throughout Western Australia.
Almost a third of successful applicants were searching for battery minerals, such as nickel, cobalt, graphite and rare earth elements. Other commodities included gold, silver, copper, diamonds, base metals and platinum-group metals.
Minister for Mines and Petroleum, the Hon. Bill Johnston MLA, said despite COVID-19, the mining industry has demonstrated its resilience in maintaining its role as a major contributor to Western Australia’s economy.
“Exploring for these minerals and commodities ensures Western Australia stays at the forefront of mineral exploration,” Minister Johnston said.
“Western Australia is a major employer of people in the mining industry, with more than 140,000 workers. It’s integral the McGowan Government continues to support exploration.”
Applications for Round 24 close at 4 pm Friday 27 August 2021.