https://www.miningweekly.com

A$2.5m available under Qld's new round of CEI

21st April 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The Queensland government has launched its fifth consecutive round of funding to support mineral explorers in the region, putting A$2.5-million up for grabs.

Minister for Resources Scott Stewart said the latest round of the Collaborative Exploration Initiative (CEI) provided a golden opportunity for Queensland explorers and will help drive the state’s economic recovery from Covid-19.

“Investment in exploration today is what will lead to the next generation of projects and jobs, and these grants are in place to put Queensland’s industry on the front foot,” Stewart said. 

“Explorers have the chance to apply for grants of up to A$200 000 under the joint government-industry CEI to help drive innovation to make new discoveries and economic growth across the state. 

“Demand for the next generation of minerals is growing globally, driven by emerging technologies like electric vehicles, solar panels and battery storage, low-emission power sources, consumer devices, and products for the medical, defence and scientific research sectors."

Stewart said as the world continued to adopt and developed these emerging technologies, the demand for minerals like silica, titanium, lithium and vanadium would increase. 

“And Queensland will be front and centre. Exploration is incredibly important for developing potential new projects and mineral deposits, which will benefit all Queenslanders.” 

Queensland Exploration Council chairperson Kim Wainwright said competition for funding through the CEI was expected to be strong, based on the response to previous rounds. 

“These highly sought-after grants play a critical role in helping to get explorers onto the ground and we warmly welcome today’s announcement by the state government of  A$2.5-million in funding for this CEI round,” she said. 

“So far, the CEI has provided A$10-million worth of funding to more than 190 explorers over the past 14 years. 

“Explorers take on a lot of risk many traditional businesses shy away from, but their commitment and passion to uncover new resources contributes to the overall wealth of all Queenslanders.” 

Wainwright said Queensland’s CEI had already led to more than 50 significant mineral deposit discoveries over the past 14 years in under-explored areas of Queensland, amongst them significant silver, lead and zinc deposits as large as South 32’s Cannington mine. 

She added that new mineral discoveries will lead to more jobs for Queenslanders and billions of dollars in royalties going into the state budget, noting that Queensland has vast potential to provide the critical minerals and rare earths needed to manufacture everyday items like smart phones and renewable energy products such as wind turbines, electric cars, solar panels and batteries. 

“Queensland has critical minerals the world needs to produce the infrastructure required for renewable energy as we transition to a low-emissions future,” she said. 

Stewart said exploration was an essential part of the resources industry, continuing to provide important jobs during Queensland’s economic recovery.

“The latest Australian Bureau of Statistics data shows investment in Queensland's exploration sector has risen to A$677-million in 2020, which is up more than A$117-million on the previous year. 

“The government has supported more than A$21-billion in resource sector investment and created more than 8 000 jobs.”

 

Edited by Creamer Media Reporter

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION