PERTH (miningweekly.com) – The Northern Territory government has recorded the largest number of applications to date for its geophysics and drilling collaboration programme as part of its A$26-million Resourcing the Territory initiative.
Minister for Primary Industry and Resources Ken Vowles said changes to the programme this year to encourage more exploration and create more jobs had proven popular with the industry.
“This government is investing A$26-million in Resourcing the Territory over the next four years. This is the biggest investment by any territory government into programmes to attract and support resources exploration.
“This investment in our future will provide new geoscience data that will lead to the discovery of future resources projects - projects that will create jobs for territorians.”
More than A$1.27-million from this round will fund 15 projects from 12 different companies.
“Improvements to the geophysics and drilling collaboration programme were made based on feedback from explorers,” Vowles said.
“They include 33% more funding overall, an increase in funding for diamond drilling programmes from A$100 000 to A$125 000 per project, and up to A$10 000 per project in additional funding to support service and supply by territory-based companies.”
“These projects will create jobs in remote areas across the territory and will target commodities such as gold, zinc, copper, nickel and cobalt,” Vowles said.
He noted that an independent review into programmes such as Resourcing the Territory found they lead to an increased share of national exploration expenditure and that every dollar invested by government results in a A$10 return in exploration activity and investment.
“These 15 projects could lead to discoveries that will bring jobs and opportunities for businesses and communities in the exploration and mining sector.”