Program provides $5 million a year to encourage innovative drilling
| Date: | Friday, 21 February 2020 |
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- Strong response anticipated for EIS Round 21 with growing interest in battery commodities
Mines and Petroleum Minister Bill Johnston today announced the opening of Round 21 of the Exploration Incentive Scheme's (EIS) Co-funded Exploration Drilling Program at the Geological Survey of Western Australia's annual Open Day in Fremantle.
The highly popular EIS program 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.
For Round 20, 41 successful applicants were offered $4.93 million for projects to be drilled during 2020. More than 900 grants have been offered since the EIS began in 2009.
Applications close March 27, 2020. For more information, visit http://www.dmirs.wa.gov.au
Comments attributed to Mines and Petroleum Minister Bill Johnston:
"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.
"Exploration in battery and critical minerals through the Exploration Incentive Scheme highlights the importance of the McGowan Government's Future Battery Industry Strategy.
"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 McGowan Government is committed to supporting the mining industry and the important contribution it provides to Western Australia.
