Tasmania Government opens round 10 of EDGI

The Tasmanian Government has opened applications for round 10 of the Exploration Drilling Grant Initiative (EDGI).

The search for critical minerals needed for the world’s decarbonisation plans will be a key focus in this latest round of mineral exploration grants.

Tasmanian Business, Industry and Resources Minister Eric Abetz commented on the new funding round.

“There is a global shift to find the minerals needed to build our economy and Tasmania can be a leader in this endeavour,” he said.

“This funding will allow mineral explorers to test greenfield locations which may lead to our next big mineral discovery.”

Now in its seventh year, the grants program supports industry and investors to find new and potentially lucrative mining opportunities

The first eight rounds of the EDGI have paid out $1.89m in grants for 19.6km of drilling and estimated company spending of $5.2m.

If required, the program provides up to $70,000 for direct drilling costs and $20,000 for helicopter support.

Mr Abetz says the program has helped mineral exploration in Tasmania reach and maintain its highest levels on record.

“More than $36.6m was spent on Tasmanian mineral exploration over the past 12 months and the Exploration Drilling Grant Initiative will further enhance our state’s booking mineral resources industry,” he said.

“The EDGI funded discovery of high-grade tin and base metal mineralisation at North Scamander and Elementos’ (ASX: ELT) recent announcement of a narrow but high-grade copper-gold mineralised zone at Luina show we’re starting to see strong results.

“Successes like these can lead to the development of new mines that are required to sustain and grow the Tasmanian economy while facilitating decarbonisation.”

Applications close on August 30 with successful applications expected to be announced in late September.