Almost $2 million is up for grabs as industry and government join forces to encourage explorers to uncover North West minerals.
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Mines Minister Dr Anthony Lynham told the Queensland Exploration Council on Thursday that 15 new exploration projects, powered by 12 companies, would be bolstered by the latest round of collaborative exploration grants and the government opened tenders to explore 672sqkm in the Bowen and Eromanga Basins.
“As it gets harder and harder for explorers to find ‘the next big thing’, Queensland is investing in exploration,” Dr Lynham said.
“This is a downpayment on future jobs and business opportunities from Queensland’s $63b resources sector.”
Government and industry jointly fund the Collaborative Exploration Initiative, which backs private investment in under-explored parts of north-west Queensland in innovative projects.
In 11 years, this program and its forebears have identified new mineral deposits such as copper-gold, lead-zinc-silver and rare earth elements.
The proponents of the latest funded projects will receive up to half of the direct activity costs of their projects to a maximum of $200,000.
They will get an additional incentive of 75% or up to $300,000, if they can finalise their projects by August 2019.
Dr Lynham said Aeon Metals was a success story from an earlier round last year.
“Their project helped to increase the extent of Australia’s largest cobalt resource - a critical mineral for battery technology which will power the next wave of renewable energy,” he said.
Companies that been successful are:
Red Metal Limited (Gibsons Tank Drilling and Three Ways Drilling)
Copper Mountain Mining Pty Ltd (Mary Kathleen Domain Gold Analysis)
Red Fox Resources Pty Ltd (Ernest Henry South Geophysics)
Teck Australia Ltd (Marimo Drilling)
Altius Australia Pty Ltd (Min Min Geophysics and Brumby Drilling)
MRG Metals Ltd (Pulchera Biogeochemistry)
Hammer Metals Limited (Mt Philp Breccia Geophysics)
Minotaur Operations Pty Ltd (Highlands Geophysics)
Capricorn Copper Pty Ltd (Esperanza Fault Drilling and Capricorn Copper Mine Mineral Systems)
Century Mining Ltd (Millenium Drilling)
Newcrest Operations Ltd (Nardoo Drilling)
Mawson Canada Pty Ltd (Isa South East Geophysics)
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