The Association of Mining and Exploration Companies (AMEC) is reminding mineral exploration companies to submit applications for Round 25 of the Co-Funded Exploration Drilling Program which opened yesterday.  

Successful applicants of the State Government initiative can receive a refund of up to 50 percent for innovative drilling projects, with new capped values of $180,000 for a multi-hole project (previously $150,000), $220,000 for one or two deep hole(s) (previously $200,000) and $40,000 for prospectors (previously $30,000).

“The $12.5M Exploration Incentive Scheme (EIS) program is a significant Government investment into mineral exploration drilling, offering up to a 50 percent refund for eligible projects,” said AMEC Chief Executive Officer, Warren Pearce.

The Association of Mining and Exploration Companies (AMEC) is reminding mineral exploration companies to make applications for Round 25 of the Co-Funded Exploration Drilling Program which opened today.

“Greenfield mineral exploration drives the success of Western Australia’s mining industry. It is these discoveries that deliver long-lasting jobs and benefits to our community and keep the country afloat during the pandemic.”

“On the back of promising discoveries and Government incentives, interest in Western Australia’s abundant mineral prospects is still strong, reflected in the continued popularity of programs like the EIS.”

“It helps exploration companies leverage matching private funding to undertake innovative funded exploration drilling, with capped values for drilling increased this round as Government acknowledge the increase in costs associated with exploration, in particular, the labour and skills shortages impacting the industry.”

“This Government initiative provides investors with an element of confidence needed to invest. As Western Australia faces challenges including labour costs and skills shortages, continuing this support will help to find new discoveries and add more projects to the development pipeline,” said Mr. Pearce.

Round 25 and Series 3 close at 4pm on Friday March 4, 2022.

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