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PERTH (miningweekly.com) – The Western Australian government will provide a further A$5.26-million in funding towards round 15 of its co-funded exploration drilling programme, as part of its Exploration Incentive Scheme (EIS).
Mines and Petroleum Minister Bill Johnston said this week that 43 recipients would be included in Round 15 of the EIS, with projects planned to be drilled in the 2017/18 financial year.
“Programmes supported by co-funding gives companies an extra incentive to drill in underexplored areas,” said Johnston.
“The government is committed to supporting the future of Western Australia’s vital resource industry. Our continued investment in the EIS helps create economic opportunities for the future.”
He pointed to an economic study released in early 2015 which showed that A$10.3-million of exploration activity resulted from every A$1-million invested in the EIS.
Another round of the co-funded drilling programme will open in mid-September, and will call for applications for projects to be drilled in 2018.