70+ applications approved: Grants attract barrage of explorers hoping to find precious resources

Explorers looking for the mines of tomorrow have jumped on the Tasmanian government’s drilling grant program with 76 funding applications so far approved. SEE THE LIST >>

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EXPLORERS looking for the mines of tomorrow have jumped on the Tasmanian Government’s drilling grant program with 76 funding applications so far approved to help search for metals to feed a hungry world market.

The latest successful companies will be looking for resources on both new and existing mining leases in places such as Zeehan, near Lake Cethana, around Henty and the West Coast ghost towns of Luina and Balfour.

The government announced on Wednesday it was delivering on its election promise to extend its exploration and drilling grants until 2025.

Almost 60 mineral exploration projects have already been approved under the Exploration Drilling Grant Initiative since it began in 2018, with another 16 announced this week under round five of the initiative.

Core Lithium, Exploration drilling at Finniss Project Site. Picture: Supplied.

Tasmanian Minerals, Manufacturing and Energy Council chief executive Ray Mostogl said global demand for metals continued to grow in both developed and developing countries.

“That bodes well towards Tasmania not being left behind as demand grows. Even protesters need their mobile phones,” Mr Mostogl said.

“Everyone wants big televisions, fridges and now lightweight cars and much of the minerals mined are also going into the renewable energy sector,” Mr Mostogl said.

“The amount of aluminium need to feed that demand is expected to increase 45 per cent over the next 10 years while the demand for copper is predicted to rise 27 per cent.

“Then there are the rare earths needed for battery technology.

“What’s neat about this current round of successful grant applications is that explorers are returning to places where minerals have been found before. What couldn’t be seen years ago can now be seen through technology.”

After seven years as general manager of Bell Bay Aluminium (BBA), Ray Mostogl has announced that he will leave the smelter at the end of April. Picture: SUPPLIED

Mines Minister Guy Barnett said the mining and minerals processing sector provides a rock-solid base to further grow exports and support local jobs.

“Tasmanian mining and minerals processing supports more than 5600 jobs and contributes more than $2b a year into the state’s economy through exports alone,” he said.

Then there are the royalties paid by mining companies.

“Since 2018, the EDGI initiative has provided more than $1.5m to industry and investors to help identify new greenfield mining opportunities, as well as now supporting exploration of existing mine or mining lease sites,” Mr Barnett said.

The EDGI program provides up to $50,000 for direct drilling costs and $20,000 for helicopter support, if required, for successful applicants wanting to undertake mineral exploration with a view to opening viable operations.

The 16 projects announced under round five will share in $780,000 with 11 grants supporting greenfield exploration and five re-examining existing mining sites.

THE FULL LIST:

*Category 1 minerals are metallic minerals; Category 2 minerals are coal.