A new round of grants to boost Western Australia’s mining exploration investment has been announced by WA Mines and Petroleum Minister Norman Moore during the opening of the Association of Mining and Exploration Companies’ (AMEC) Convention 2012.


Mr Moore said the Round 6 funding would be offered to drilling operations set for 2013, under the Exploration Incentive Scheme’s Co-Funded Drilling Program, funded by Royalties for Regions.


“The program encourages exploration in underexplored areas and since its inception in 2009, it has funded over $27million in grants to more than 250 exploration drilling projects,” he said.


“The program has been hugely popular because it offers co-funding of up 50 per cent of direct drilling costs. For example, funding for a single hole application is capped at a maximum of $200,000.


“But that’s just the tip of the iceberg, considering the State Government will have provided around $138million to explorers as part of the program, come 2016.”

 

Mr Moore said that despite talk of the end of the mining boom, the long term outlook for Western Australia’s resources industry remains strong.


“WA is uniquely placed to continue to attract investment, with our close proximity to Asia, strong regulations and an abundance of natural resources. This State will continue to be the engine room to the rest of the nation - you only have to look at the $107billion generated by our resources industry in 2011 to realise that.”

Applications for round six of the Co-funded Drilling Program close on October 5. More details are here.