The Tasmanian Exploration Drilling Grant Initiative (EDGI) is setting up a stronger future for our resources sector with the latest round taking total mineral exploration investment driven by the program to $8.2 million since 2018.
The EDGI program encourages mineral exploration which can find deposits that could feed into the pipeline of next generation mines.
In the 12 months to February 2025, the mining industry generated over 64 percent of Tasmania's export revenue and employed 6,800 people, mostly in regional areas.
Minister for Business, Industry and Resources, Eric Abetz, said that the latest seven projects approved for funding would share in more than $497,000.
"Round 11 of the Tasmanian Government's EDGI grants cover a range of critical, strategic and precious metals," Minister Abetz said.
"These projects will see 4,000 metres of exploration drilling undertaken.
"This program is highly successful with $2.7 invested overall for every $1 put in by the Tasmanian Government, promising a significant return on the $3 million in funding approved through the program to-date."
Mr Abetz said previous rounds were a good sign of things to come.
"Round 10 had seen some great outcomes like ABx Group's new find at Temple Bar, an EDGI-funded discovery of significant concentrations of highly valuable rare-earth elements, particularly those used in permanent magnets," Minister Abetz said.
"Likewise, significant deposits of copper and gold mineralisation were also found with EDGI funding by CopperCorp at the Jukes Prospect near Queenstown, which was an active mining site in the late 1800s and early 1900s.
"These are great examples of the opportunities identified with the support of the program at new and existing sites, demonstrating it's value to the State and sector.
"Through our 2030 Strong Plan for Tasmania's Future, we're always looking for new opportunities to benefit Tasmania.
"For an industry that is worth over $2.5 billion a year, we have a responsibility to make the most of our mineral resources to help grow our economy to benefit the next generation of Tasmanians looking to live, work and raise a family right here."
