PERTH (miningweekly.com) – The Western Australian government has opened Round 25 of its Exploration Incentive Scheme (EIS) and Series 3 of its Energy Analysis Programme (EAP)

Explorers can receive a refund of up to 50% for innovative drilling projects, with new capped values of A$180 000 for a multi-hole project, A$220 000 for one or two deep holes, and A$40 000 for prospectors.

The co-funded EAP offers an up to 50% refund for up to A$50 000 per application.

The co-funded drilling programme encourages innovative exploration in greenfield and under-explored areas of Western Australia, while the EAP promotes the re-analysis of existing data to better understand the State's petroleum and geothermal systems.

“The government recognises that ongoing exploration success is essential for the sustainability of Western Australia's resources sector,” said Mines and Petroleum Minister Bill Johnston.

"The increased funding caps will help resources companies further mitigate the costs and risks associated with exploration drilling.

"Western Australia competes with several other jurisdictions to attract exploration investment so we will continue to support programmes that provide the state with competitive advantages in this area.”

The Association of Mining and Exploration Companies (Amec) has urged explorers to take advantage of the EIS.

“The A$12.5-million EIS programme is a significant government investment into mineral exploration drilling, offering up to a 50% refund for eligible projects,” said Amec CEO Warren Pearce.

“Greenfield mineral exploration drives the success of Western Australia’s mining industry. It is these discoveries that deliver long-lasting jobs and benefits to our community and keep the country afloat during the pandemic.

“On the back of promising discoveries and government incentives, interest in Western Australia’s abundant mineral prospects is still strong, reflected in the continued popularity of programmes like the EIS.

“It helps exploration companies leverage matching private funding to undertake innovative greenfield exploration drilling, with capped values for drilling increased this round as government acknowledges the increase in costs associated with exploration, in particular the labour and skills shortages impacting the industry.”