Exploration incentives to create more jobs
WA mines and petroleum minister Norman Moore explained that this drilling program encourages exploration in greenfields and underexplored areas.
The West Australian Government`s latest drilling program has attracted 60 applications from companies eager to explore.
“Gold and base metals exploration targets featured in many of the applications, with iron ore, nickel and the platinum group elements the next most popular commodities.
$80 million incentive scheme
Moore went on to say that the drilling program is the main part of the $80 million Exploration Incentive Scheme (EIS), which is funded by the Royalties for Regions program and “helps to ensure the security of WA`s resources sector by helping explorers find the mines of tomorrow today.”
To date, the program has supported a number of new discoveries over the past two years, including iron ore, uranium and copper as well as new gold discoveries near Warburton and within the Tropicana belt.
Another round of application will be announced in the second half of the year around August and September for drilling projects carried out between January and December 2012.