Joint media release with Member for Braddon Gavin Pearce MP and Tasmanian Minister for Resources Guy Barnett
The Coalition Government will spend up to $3 million to expand the Exploring for the Future program into Tasmania to shed new light on the region's resources, including its critical minerals potential.
Minister for Resources, Water and Northern Australia Keith Pitt said Geoscience Australia will embark on this work under the second phase of the Exploring for the Future program.
"We want to invest in Tasmania's resources potential to bring future wealth and jobs to the state," Minister Pitt said.
"Critical minerals are an important part of our future and are key inputs for an increasing range of high-tech applications, including advanced manufacturing, health technologies and defence and space industries."
Selected Tasmanian ore deposits will be studied to determine the age of mineralisation and this information used to help characterise the mineral resource potential of the region.
Federal Member for Braddon, Gavin Pearce MP, said mining on the West Coast of Tasmania and on King Island has played an important role as major contributors to the wealth of Tasmania.
"This renewed vigour in mineral exploration will unlock further opportunities for expansion of this important industry, including critical minerals for which the demand is continuing to evolve," Mr Pearce said.
"This $3 million investment is another example of the Federal Government's ongoing commitment to supporting Tasmania's job-creating mining sector."
Tasmania's Minister for Resources Guy Barnett said Tasmania has some of the country's richest geology, with the mining sector a key pillar of the local economy.
"The Exploring for the Future Program will be crucial to explore, research and identify more of Tasmania's natural mineral resources," Minister Barnett said.
"This research plays a vital role in unlocking future mining development, further investment and more jobs in regional Tasmania.
"A re-elected Majority Liberal Government will commit a further $2 million over four years to a new Geoscience Initiative."
"Sampling of these deposits will take place in April 2021 in collaboration with Mineral Resources Tasmania and initial results are anticipated by the first half of 2022," Minister Pitt said.
"This information will support a better understanding of regional mineral systems and, therefore, support exploration strategies with increased success rates."
Some of the work being done in Tasmania forms part of a broader study into the Delamerian arc that extends across south eastern Australia. This will provide a better understanding of this regional mineral-forming system that extends into western Tasmania.
"Collating and interpreting this geological information will improve the understanding of mineral potential in the region and hopefully lead to increased mineral exploration in Tasmania in future years," Minister Pitt added.
"Having already seen immense value in the geological data we uncovered in northern Australia during phase one of the Exploring for the Future program, we know this is a successful approach that is already paying dividends."
