$5 million in funding available for critical mineral exploration as part of Collaborative Exploration Initiative

Queensland’s next wave of mineral explorers could strike it big, with applications now open for a share in $5 million worth of funding to uncover critical mineral deposits.

Scott Stewart, Minister for Resources and Critical Minerals, with True North Copper Limited Chief operating Officer Peter Brown and Head of exploration, Daryl Nunn. Picture: Shae Beplate.

Applications are now open for the next round of explorers searching for Queensland’s next critical minerals deposit to stake a claim in $5 million worth of funding.

The Collaborative Exploration Initiative program allows explorers to apply for funding of up to $250,000 to uncover minerals essential for developing clean energy technologies including solar panels, wind turbines and electric vehicle batteries.

Resources and Critical Minerals Minister Scott Stewart said the government was continuing to back the resources sector and explorers and that the CEI program builds on the $315 million Queensland Critical Minerals Strategy and the Queensland Governments $6.2 million Copperstring project.

“The mineral exploration projects of today have the potential to become the major mining projects of the future, which is why these funding initiatives are crucial,” he said.

Mr Stewart said mineral exploration expenditure in Queensland reached $919.7 million in the 12 months to June, a significant increase of $148.3 million compared to the previous year.

Minister for Resources and Critical Minerals Scott Stewart at the official opening of the CopperString Experience Centre in Townsville. Picture: Shae Beplate.

“By investing in exploration now, we’re positioning Queensland as a global leader in supplying the essential resources needed for the renewable energy revolution,” he said.

“To build a truly decarbonised economy, we need bold explorers willing to take on the risks to uncover the next major critical mineral deposits, this funding initiative helps make that possible.”

The last round of applications saw Mount Isa Mines and Graphinex as successful recipients.

Graphinex received funding and was able to discover a graphite orebody at the Esmerelda Graphite Project, south of Croydon.

The exploration provided crucial data on the deposit’s size and quality and with these findings, the deposit is poised to become a significant source of graphite for renewable energy technologies, particularly batteries.

True North Copper was also a recipient of $300,000 in funding in round 8 of the initiative and expanded on the deposits made 150 years ago in the North West Minerals Province.

Mr Stewart said the Miles government was proud to stand being the resource industry and the explorers driving forward the projects that will ‘secure Queensland’s place as a powerhouse in the global clean energy future.’

Submission are open until December 11 via the CEI’s online web form.

Originally published as $5 million in funding available for critical mineral exploration as part of Collaborative Exploration Initiative