$2.5 million grants boost in search for new economy minerals

Up to $2.5 million worth of grants are on offer from the Palaszczuk Government to help Queensland explorers find the minerals needed to charge the renewable energy revolution.

Resources Minister Scott Stewart said round six of the Collaborative Exploration Initiative, which opened today, will provide explorers with valuable support to assist in new mineral discovery.

“Exploration leads to more projects and jobs in the future which is important as part of our economic recovery plan from COVID-19,” Mr Stewart said.

“Right now we are in the midst of an exploration boom right here in Queensland.

“Explorers can apply for grants of up to $200,000 to help make new discoveries and build economic growth across the state.

“This funding will allow resources companies to test innovative and creative ideas which may lead to our next big mineral discovery.”

Mr Stewart said priority would be given to new economy minerals projects, with a strong focus on the North West and North East minerals provinces.

“Our CEI program is unique in that it does not require recipients to match funding,” Mr Stewart said.

“This encourages Queensland explorers to look towards the next frontier of exploration finds, such as the North West Minerals Province, with far less financial risk involved.

“Also, after speaking with industry, we have changed the dates to make it easier for explorers to have the best success at their chosen projects during the dry season.”

As part of the program, recipients receive a six-month data confidentiality period for companies to make the most of the data they have acquired.

After the confidentiality period, the data and reports are made freely available to the whole of industry, so they can be used to help future explorers.

Managing Director of Queensland mining company Vecco Group, Thomas Northcott, said the CEI program played an important role in the progress of his company’s Debella Vanadium and High Purity Alumina Project north of Julia Creek.

“The CEI funding was crucial in allowing our company to undertake detailed analysis of drill core samples to support our feasibility studies, while also providing important geological information for government and industry,” he said.

“The process promotes the advancement of scientific understanding with shared outcomes for both industry and government.”

For information on making an application visit the website.

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Media contact: Chris Lees 0434 859 940