Five new mining projects have been awarded funding through the latest round of the Tasmanian Government’s drilling Exploration Drilling Grant Initiative (EDGI).
Commencing in 2018, the EDGI encourages and supports industry and investors to identify new and potentially lucrative greenfield mining opportunities as well as the re-examination of existing mine or mining lease sites, including for critical minerals and those minerals needed for de-carbonisation.
The program provides up to $50,000 for direct drilling costs and $20,000 for helicopter support, if required, for successful applicants to undertake mineral exploration.
Tasmanian Minister for Business, Industry and Resources Eric Abetz said the EDGI will help the mining industry search for critical minerals and other deposits, delivering economic benefits and jobs for the state.
“These newly-approved projects will see nearly four kilometres of exploration drilling undertaken and more than $1 million spent by industry,” Abetz said.
“This program is highly successful, with industry investing $2.90 for every $1 invested by the Tasmanian Government, providing a significant return on the program’s overall investment.
“The latest round of successful projects take the total approved since 2018 to 114 from 33 different companies, a sign of the strong interest in the mineral potential of the state.”
Tasmania’s education sector will also benefit from the program, with all drill core and samples stored at the Mineral Resources Tasmania Core Library in Mornington and available for public viewing and sampling.
“The University of Tasmania is a significant user for both undergraduate and post-graduate research teaching, including techniques of describing core and the identification of rock types and structures in the cores,” Abetz said.
Abetz said that mineral exploration was integral to jobs, economic activity and to building a renewable energy future.
“What we have seen in recent years is a shift to find the minerals needed to build future economies,” he said.
“In this round alone, three of five approved projects are looking for critical and battery minerals such as the rare earth elements and tin.
“These metals are essential as the globe transitions to a future with greater use of renewable energy, and industry knows this is where there will be significant demand and value well into the future.”
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