Strong interest in WA exploration

Applications for the state government’s exploration incentives drilling grants have surged by more than 50 per cent in its latest round.

The state government received 96 applications under round 22 of the Co-funded Exploration Drilling Program, as part of the Exploration Incentive Scheme (EIS), compared with 62 applications in round 21.

The EIS was set up in 2009 to encourage resources exploration in Western Australia.

It is funded by an ongoing $10 million each year.

About $7 million in grants will go to 57 companies and prospectors under round 22 of the co-funded drilling program.

More than a quarter of those explorers are searching for battery metals, the state government says, while record gold prices are also making the product a popular target.

Other commodities include copper, rare earth elements and potash.

Mines and Petroleum Minister Bill Johnston said the rise in applications reflected WA’s position as a world-class investment destination for mineral resources.

“It is encouraging to see the breadth of exploration with the projects stretching from the Kimberley and Pilbara in the north, through to the Mid West, Goldfields and Great Southern regions,” he said.

The latest grants are in addition to a $5 million state government contribution, as part of the WA Recovery Plan.

Premier Mark McGowan said the contribution would allow more companies to participate in the co-funded drilling program and create more jobs in regional areas.

“More rigs and workers increase the odds of new resource discoveries and new mines, which bring positive, long-term outcomes to local communities,” he said.

The next round of the co-funded drilling program opens in February.

The EIS is managed by the Department of Mines Industry Regulation and Safety's Geological Survey of Western Australia.

It supports four other programs including Geophysical Surveys, which aims to capture all geophysical and geochemical data in WA.