Hon Norman Moore BA DipEd JP MLC

Hon Norman Moore BA DipEd JP MLC

Former Minister for Mines and Petroleum; Fisheries; Electoral Affairs

    Boost for exploration a highlight at key event

    4/09/2012 12:00 AM
     
    • $5million in funding available to explorers in WA
    • Exploration Incentive Scheme Round 6 for 2013 drilling operations
    • More than $27million in grants for exploration drilling projects since 2009
    A new round of grants to boost Western Australia’s mining exploration investment was announced today by Mines and Petroleum Minister Norman Moore during the opening of the Association of Mining and Exploration Companies’ (AMEC) Convention 2012.

    Mr Moore said the Round 6 funding would be offered to drilling operations set for 2013, under the Exploration Incentive Scheme’s Co-Funded Drilling Program, funded by Royalties for Regions.

    “The program encourages exploration in underexplored areas and since its inception in 2009, it has funded over $27million in grants to more than 250 exploration drilling projects,” he said.

    “The program has been hugely popular because it offers co-funding of up 50 per cent of direct drilling costs. For example, funding for a single hole application is capped at a maximum of $200,000.

    “But that’s just the tip of the iceberg, considering the State Government will have provided around $138million to explorers as part of the program, come 2016.”

    The Minister said it was schemes like this that would help find tomorrow’s mines today to ensure the State’s resources industry maintained its strong growth for years to come.

    “There has been much speculation about the mining ‘boom’ ending. While I recognise that investment cycles aren’t always smooth sailing, the long term outlook for Western Australia’s resources industry remains strong,” he said.

    “WA is uniquely placed to continue to attract investment, with our close proximity to Asia, strong regulations and an abundance of natural resources. This State will continue to be the engine room to the rest of the nation - you only have to look at the $107billion generated by our resources industry in 2011 to realise that.”
     
    Mr Moore delivered the welcoming address to 800 local and international resource and exploration specialists attending the three-day AMEC convention.
     
    Fact File
    • Applications for round six of the Co-funded Drilling Program close on October 5, more details at: http://www.dmp.wa.gov.au/EISdrilling
    • WA ranked equal 11th out of 93 global jurisdictions as a preferred mining destination in 2011
    • $167billion in projects committed or under construction in Western Australia
    Minister's office - 6552 5400